Monday, October 6, 2008

Bad credit risk

Currently, there has been a substantial amount of searching for a scapegoat in the financial meltdown. Indeed, there are many who have contributed to the difficulties, but one charge that I find particularly odious is the insinuation that loans to minority people crashed the system.

Somehow, the argument implies that those evil poor persons got too uppity; and started acting like they should be having mortgages like the real citizens of this great union. This, of course, transgresses the laws of God and man, and for such a violation of the natural order, a crisis of international proportions occurred. The architects of the global chaos were purported to be, as usual, the people with the least ability to effect beneficial change in their own situation; while the power brokers were again the helpless pawns of the paupers.

Watching the wealthy squander the economic future on their insane lust for present gain has become an American pastime over the last thirty years; with each disaster providing less entertainment value, and more hardship. As greater amounts of control are funneled into fewer and fewer hands, the wielders of influence become increasingly divorced from the mundane reality of average life; and grown progressively less sane in their dealings with politics and economics. The short term advantage has become an idol of epic proportions; worshiped with fervor equivalent to biblical malfeasance.

The golden calf of capitalism now requires sacrifice; the life blood of taxes and future prosperity should do nicely. Perhaps it is time to acknowledge the truth- the obscenely wealthy are the worst credit risks, and need to have their borrowing privileges revoked before they bankrupt us all.

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