President Obama made his weekly address today, using it as an opportunity to further talk down our markets, bash capitalism, and generally depress everyone. I'd only recommend you watch it if you like having that sinking feeling in the pit of your stomach.
The one aspect that really stuck out at me was how he got so preachy about the Wall Street bonuses (something that he really has no constitutional authority to control), while he continues to ignore the rampant Democrat corruption that caused much of the crisis (his constitutional responsibility). all the while lecturing US about responsibility and ethics.
No mention of Chris Dodd's sweetheart mortgage deal. No mention of Barney Frank's criminal negligence in oversight of the banking industry. No mention of Franklin Raines or Jim Johnson and how they cooked the books at Fannie Mae and Freddie Mac. No mention of Chuckie Schumer's attack on IndyMac to get the whole ball rolling on our collapsing economy. Probably because those crises helped get him elected.
Maybe even more concerning is the President's apparent lack of concern for the market and investor confidence. Saying things are going to get worse and never mentioning the opportunities in our economy seems almost calculated to depress our markets and our national psyche. His failure to go to Wall Street and reassure investors while he has time for long morning workouts and $100 steak dinners seems almost like malfeasance, or at the very least abject ineptitude. If the media were doing their job at all, he'd have some explaining to do.
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