In politico speak pandering means lying. It is saying one thing to one group of constituients and saying the opposite to another group. One of those has to be a lie. But, when it comes to politicians it is sometimes difficult to discern if a statement is just pure ignorance.
My Obama and Mr. Biden seem to be running against George Bush. Here are some paraphrased statements by Mr. Obama and my take on them:
"The financial debacle we are in is a verdict on eight years of failed economic policy."
No, banking and lending deregulation started in the late 70's and continues today, promoted by both political parties.
"The subprime lending meltdown is an indication that families have been under stress the last eight years"
No, it results from families being given loans that they cannot repay. Risk management in lending used to take economic cycles into consideration.
"We need 21st century regulation for 21st century conditions."
No, we need a return to basic lending principles that do not entice the poor to take on debt they cannot ever have a chance of repaying. We don't need change here, just a return to the basics of financial regulation and oversight that both political parties abandoned many years ago.
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I can't stand all the lies being told, our Senator Specter just put out an email saying he was philosophically opposed to bailouts but something had to be done to prevent more foreclosures. I'm tempted to drive 2 hours to a town hall meeting in a few weeks so I can ask him which part of that bill will help someone from being foreclosed on....
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