Sunday, July 5, 2009

Money & Business

Capital Commerce

Zawahiri: Blame Al Qaeda for Wall Street Woes

November 29, 2008 08:24 AM ET | James Pethokoukis | Permanent Link | Print

Hey, good news for Alan Greenspan, Barney Frank, Chris Dodd and those Wall Street quants who never figured housing prices could plunge across the country: America's financial fiasco isn't your fault. At least that's the claim of Ayman al-Zawahiri. Al Qaeda's #2 has this to say about the credit crisis:

"This crisis is one of ... the series of American economic hemorrhages after the strikes of September 11... And these ... will continue as long as the foolish American policy of wading in Muslim blood continues. The ones shouldering the burden are taxpayers, whose money was spent to rescue senior capitalists and to protect the fraudulent interest-based system from collapse."

Me: I really love it that these murderers of average Americans try to reach out to average Americans by looking out for them as taxpayers. Oh, and I might think more highly of Al Qaedanomics if they didn't want to take us back to the boom times of the 7th century.  Current betting market odds of Osama Bin Laden being captured or killed by next summer? A far-too-low 16 percent.

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Reader Comments

Capital Commerce

The American public elected Obama it is not that far fetched to believe they will fall for this also.

Some Truth

Alan Greenspan lowered interest rates ... and kept them low until about 2004 ... in response to September 11th. They were not sure what the effect was, and wanted to stimulate the economy. Unfortunately, the Clinton time bomb (by executive order, Clinton reduced the mortgage lending standards in 1995 ... forcing banks to comply through the CRA) ... well, the Clinton time bomb kicked in at that point. The situation was complicated by the fact that we really CANNOT fix anything in Washington due to special interest politics (like Fannie Mae, etc.). Al Qaeda was the spark that lit the flame of lower interest rates. The rest is our fault.

STFUAQ (CIA / Saudi Douches)

Alan Greenspan, Chris Dodd and Barney Frank would love to pin this on the bogeyman, but their roles in this crisis are unmistakable. Let's see them publicly horsewhipped and sent to jail before we storm into a country "bristling with nuclear weapons" in Joe Biden's words. What is this, another 911? The country just voted the people responsible into power. They deserve the mess coming down the pipeline.

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About the Capital Commerce Blog

Send an E-mail to mbandyk@usnews.com.

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital. Reach him by email at mbandyk@usnews.com.

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