The Idea of Expensive Gas is Only Psychological

We had the second largest bank failure in U.S. history. Just wanted to make sure conservatives caught the reason why:

>Schumer said in a statement that the cause of IndyMac’s failure was “poor and loose lending practices” that should have been prevented by more active regulation.

http://www.latimes.com/business/la-fi-indymac12-2008jul12,0,6071779.story

Also, as FactCheck has pointed out, while the Republicans are spending money blaming Obama for not having an energy plan, Obama has proposed a $150 billion program on alternative energy.

>While McCain recently proposed The Lexington Project, which includes spending $2 billion annually toward clean coal technology advancement, McCain doesn’t have a plan comparable to Obama’s in scale of spending.

http://www.factcheck.org/elections-2008/a_false_accusation_about_energy.html

That is, if you believe there really is an energy crisis. Turns out, one of few economists that McCain actually does trust says the crisis is all in our heads and that we’re really just “a nation of whiners”:

http://firstread.msnbc.msn.com/archive/2008/07/10/1191310.aspx

2 thoughts on “The Idea of Expensive Gas is Only Psychological

  1. Yes, it appears that the banking problem is one of regulations. The recent upturn can be directly related to the restriction of naked short selling.

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