Election ’08: The Financial Blame Game

With the expanding financial crisis moving from mortgage holders, to lenders, to banks, to insurers, it’s only natural that politicians who didn’t foresee it all or did nothing to stop it should start pointing fingers. As if on cue, Barack Obama is blaming the current Bush/McCain administration. Oh, wait, McCain isn’t in the Bush administration. No matter; Obama’s high-minded supporters who foam at the mouth any time Bush’s name is mentioned think that all that has gone wrong in the world is the president’s fault. However, blaming Sen. McCain when Obama, last I checked, is also a senator, is ludicrous. There is enough blame to go around. Let’s blame:

— Policians and community activists who browbeat lenders for not giving those with shaky finances mortgages;

— the Fed for continually lowering interest rates to keep the economy afloat, causing many to take risks they otherwise shouldn’t have;

— lenders for enticing gullible borrowers to take on more debt-through complicated ARMs or other hard-to-understand financial products-than they could handle;

— greedy borrowers who took on too much debt;

— the Bush administration for not pushing through needed oversight and reform;

— Congress for not regulating those they are charged to regulate.

As I said, there is more than enough blame to go around. Sen. Obama, heal thyself.

About Stan Guthrie

Stan Guthrie is an editor at large for Christianity Today magazine and for the Chuck Colson Center for Christian Worldview. His latest book is God's Story in 66 Verses. He also is author of All that Jesus Asks: How His Questions Can Teach and Transform Us, Missions in the Third Millennium: 21 Key Trends for the 21st Century, and A Concise Guide to Bible Prophecy. He is co-author of The Sacrament of Evangelism. Besides authoring, writing, and editing books, Stan is a literary agent, bringing together good authors, good books, and good publishers. Stan writes the monthly Priorities colum for BreakPoint.org. He has appeared on National Public Radio's €œTell Me More,€ WGN's Milt Rosenberg program, and many Christian shows, including The Eric Metaxas Show and Moody Radio'€™s €œNew Day Florida.€ A licensed minister and an inspirational speaker, he served as moderator for the Christian Book Expo panel discussion, Does the God of Christianity Exist, and What Difference Does It Make?
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