As I've mentioned before, I sometimes log into the official White House website to get an exact quote or find out what Dubya is up to when we're not looking.
For instance, today it has his official radio address in which he discusses the "period of adjustment" that the mortgage industry is going through. In his address, W says that his priority is "to help American homeowners navigate these financial challenges, so that as many families as possible can stay in their homes. The Federal government will not bail out lenders -- because that would only make a recurrence of the problem more likely. And it is not the government's job to bail out speculators, or those who made the decision to buy a home they knew they could never afford. But I support action at the Federal level that will help more American families keep their homes."
Hmmm, the Federal government will not bail out lenders...what is it then, when you lower the prime rate? Isn't that lowering the rate at which the Federal Government lends money to banks? Doesn't that kind of help the lenders? Please, those of you with more understanding of these complicated financial things than I have, correct me if I'm wrong on this.
OK, now as to the next part, about it not being the government's job to bail out "those who made the decision to buy a home they knew they could never afford." Isn't that the problem here? The people who bought these houses can't afford them? Don't get me wrong, I have a lot of sympathy for the people who found banks that willingly lent them money for mortgages for which they wouldn't ordinarily qualify. But let's call a spade a spade here.
Naturally W's solution is...tax breaks. I'm sure that will do those low income people a lot of good. He also has a couple of other fixes, so we'll see...Given his track record, I expect most of it will benefit the rich and not the poor, but I'll welcome any further knowledge others can provide.
There was actually a very good article in the NY Times magazine on Sunday about how we came to be in this mess. As usual it all goes back to greed and gambling.
However, I digress.
What I was going to tell you about when I started this post was the OTHER White House website. The one I accidentally stumbled upon when I was looking for the Whitehouse.gov site. I typed in "www.whitehouse.org" by mistake and got this! At first as I was reading it I thought it was real. It almost sounded like something W would have said. Then it dawned on me that this was satire. I remembered having read about this alternate "White House" website awhile back but had never read it before.
Check it out, you may find it's closer to the truth than we'd like to think.