Thursday, October 23, 2008

AMAZING WHORING BY HANNITY

An Obama supporter called in and told Hannity that anyone who can say the fundamentals of the economy are strong doesn't belong in Washington, let alone the White House. In reply, Hannity tried to argue that the economy WAS sound and spoke briefly about the tremendous growth of the economy under Bush. Here's some recent evidence that Hannity ignored:
Greenspan: U.S. Will Take Months To Recover

by John Ydstie

All Things Considered, October 23, 2008 · Former Fed Chairman Alan Greenspan told House lawmakers the financial damage done to date means an unavoidable rise in unemployment in the U.S. Greenspan said the U.S. had been hit by a "once-in-a-lifetime credit tsunami" and that it will take many months for the situation to improve.

And when it came to the Crunch, Uncle Alan did not blame Freddie, Fannie or the CRA:
In his testimony, Greenspan put the blame for the subprime collapse on overeager investors who did not properly take into account the threats that would be posed once home prices stopped surging upward.

"It was the failure to properly price such risky assets that precipitated the crisis," he asserted.

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