Sixty Six: An Honest Speech

Today, President BO issued the following prepared remarks:

"Frankly, I don't have a clue what is going on with the economy. And neither does anybody else. The plain fact is that for way too long, way too many people and companies, borrowed way too much money, with way too little proper underwriting being done by lenders. For those borrowers who have defaulted on their loans, they should rightly lose their credit cards and their houses. They can live in apartments until they have saved enough money to have a reasonable downpayment on a new house.

For those lenders who are holding bad paper with insufficient collateral, they should rightly be forced out of business. Yes, innocent people will lose jobs, but that's the way it goes. These people should have been saving money while they were working at employers who business model was shaky at best.

For those investors who bought securities in companies who have fared badly in the recession, they should (and have) rightly lose their investments.

For those politicians who encouraged or forced lenders to make dubious loans to unqualified borrowers for purely political reasons, and which same politicians are now grandstanding for the cameras, they should rightly be held up to ridicule and shame, and should (but probably will not) lose their elected offices.

For those CEOs who have presided over companies losing billions of investor and taxpayer money, they should rightly lose their jobs.

And when all of this has happened, whoever happens to be president at that time, will be declared a good and great leader.

Thank you, and good night."