There are few issues that have been obfuscated as diligently by the media organs of the MSM Left as has been the housing crisis that led to our current economic depression. Why, of course they would do that: the Democrats are guilty as sin! We’ve observed on the pages of this very blog the attempts to divert responsibilities for this disaster to vague, shadow conspiracies orchestrated by conservative capitalist dirigistes.
So, here’s kudos to a Pulitzer-winning journalist for the New York Times writer, a Wall Street financial analyst, and to one of my favorite old-school democrats for cutting through the murk and exposing the ugly truths to this disaster in simple, easy-to-understand terms in book summarized by Walter Russell Mead at the American Interest (h/t to smalldeadanimals.com).
Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Econonomic Armageddon, By NYT journalist Gretchen Morgenson and financial analyst Joshua Rosner.
Walter Russell Mead is one of my absolutely favorite political writers. Though he is a confirmed Democrat, he hails from a disappearing Democrat tradition that once (long, long ago) allowed me to be proud about being Democrat. It was a time when the intellectual ferment was seasoned by the ideas of Democrat greats like Henry Jackson and Daniel Patrick Moynihan (I sure do miss Moynihan). Mead reminds us that there remain still-flickering embers from those bygone days, before the Democrat party succumbed to a motley collection of Leftists and other pervs.
Here’s how Mead’s book review opens: “The Republican Party and especially its Tea Party wing have just acquired a new weapon of mass destruction”.
Here’s the book review.
Then buy the book and distribute it to your Democrat friends, reminding them that this is a pronouncement descending from the hallowed heights of the NYT. Because, as we were recently reminded, the NYT is their “god”.