Thread: What do you think of Rush's latest conspiracy theory?

http://thinkprogress.org/2008/12/22/limbaugh-democrats-indy/

...Except...the sub prime crisis (Much of the heart of the overall economic crisis) really started last year; As further evidenced by the government's recent report that the economic growth rate also reached recessionary levels in 2007:

http://en.wikipedia.org/wiki/Subprime_mortgage_crisis

http://money.cnn.com/2008/12/01/news/economy/recession/index.htm?postversion=2008120112

...All of which is well before the run on Indy Bank this summer. So, Logic demands my curiosity; How again could Senator Schumer or any other Democrat have 'manufactured' the economic crisis - When it's roots go back, in fact; To well, well before the Indy Bank events at the cornerstone of Rush's conspiracy...?

...?

I guess I'm intrigued by any thoughts (or shared hilarity) on this...
In response to answer 2; I will admit that I think both parties, The Dems and Repubs, as well many of our economic institutions; Bear some responsibility for the crisis. There is no doubt that the Dems were too protective of Fannie and Freddie. (Although, ironically, Obama's financial ties to Fannie and Freddie were much smaller than McCain's - Whose chief campaign advisor was still on multi-million dollar retainer for Freddie through all but the last few months of McCain's campaign).

Still, I think; As much as anything else; The heart of the crisis was simply unsound loans being issued. And this was done so often for so long because there was almost no regulation or even oversight in place. Bush is the chief executive - It is his job; (On the oversight, In concert with Congress) to do this. He let the sub primes and other mortgage lenders run unchecked. The very hearings you cite were during times of Republican Congressional rule. If this was all the Dems fault... (To be concluded)

(Conclusion of above response) ...Then how did we get to this point? Surely the Republican President and Republican Congress, simultaneously in place for so long; Could have improved regulation somehow-?!!

I don't think the idea, Then; That this was something solely (and certainly not instaneously around Limbaugh's cited event) manufactured by Democrats - To win an election for any other reason - Hold water...
'I Do Know The Muffin Man' - I didn't say Rush was always wrong; But I don't often recall times he's been right; To be frank-!

He shouldn't use language like 'manufactured' if he really means 'propagandaized' or 'promoted' or some other more appropriate term. To say that the problem was 'manufactured' is totally deceiving if what Limbaugh really meant is simply using it for political gain. I think it was an intentional deception; Particularly in the context of linking it to a specific event, In an effort to try to, As another answerer noted; 'Blame the other guy' - Make the Democrats seem responsible for the crisis.

Rush in many ways is the republicans version of the Liberal's own Michael Moore, difference is Rush is not nearly as extreme as Moore and most times there is at least some evidence to back up his theories. If you want to see hilarious check out Moore's conspiracy theories, that guy is a certifiable nut.