Senator Jim DeMint is an Idiot

[erpowers]

This morning Senator Jim DeMint was on the Today Show, in my opinion, saying stupid things. DeMint was trying to say that the government caused this problem. That is so stupid to me in that it was the banking industry that pushed for legislation that allowed this to happen. In addition, DeMint claimed that the government pushed for everyone to get a home even if they could not afford to own a home. Once again it was not the government that forced banks to give loans to people who could not afford to pay for the loans. It was bank executives who wanted to make more money and knew or thought they would not have to deal with the failure of the loan in that they were going to sell the loan to someone else. In addition, the government did not force these banks to pay people to claim their bad loans were good. Finally, DeMint tried to claim that this country needed to grow its economy by lowering corporate taxes and ending the capital gains tax. DeMint was not forced to admit that a few years ago a number of major corporations actually paid zero corporate taxes.

Although Charles Shumer probably did a good job against DeMint I wish he would have debated DeMint more on the issue of where blame lies for these current events. I contend this is not the fault of government, but the fault of the bank executives who wanted to make more and more money and decided to knowingly give bad loans to people.