Tuesday, January 03, 2006

Time for a "Mr. Smith" at the White House.

Jack Abramoff who pled guilty today for bribery is a prime example of what's wrong with American government today. The needs of ordinary Americans are swept aside in favor of corrupt special interest lobbyists like Abramoff ready to slip money and gifts to legislators and well placed officials. In Abramoff's case the issue was the unhealthly expansion of Indian casino gambling.

I suspect similar misconduct is what's behind the housing price bubble which is clearly the creature of non conforming mortgages pumping too much "funny money" into the real estate market. My guess is real estate and banking interests have bribed federal officials with policy authority over credit standards to allow the widespread issuance of unsound mortgages.

This country desperately needs a "Mr. Smith" at 1600 Pennsylvania Avenue.

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