Who is the winner from partisan blaming and bickering?
I notice an increase in attempts by Republican and Democrat partisans to blame the other side for the bear markets and the recession/depression we are and will be experiencing.
This is natural, as elections near.
However, the winner in all of this is the government itself. When we fight each other over who is to blame, we lose sight of the incontrovertible fact that both Republicans and Democrats are to blame.
One can find news reports of bankers who categorically blame Clinton's regulatory impositions under the Community Reinvestment Act for igniting the subprime lending practices. One can find state regulators who blame the feeble and non-existent federal enforcement actions against mortgage company deceitful practices under the Bush administration. The investment bankers contributed heavily to both parties and secured the aid and comfort of the Chris Dodds in both aisles.
In the same way that Congress has with wide majorities approved of war in the Middle East and sanctioned Iran, it has fathered the subprime crisis and benignly neglected (as it wished to) the Fed's decimation of the dollar.
Divide and conquer. Partisan bickering benefits government.
