Via Jake Tapper at Political Punch blog:

The president said, “It [propping up dead banks] was the right thing to do, even though it’s infuriating, even though it makes you angry because you’re thinking, ‘I was responsible and these folks are irresponsible and somehow I’m paying for them.’ The same is true with AIG.  It was the right thing to do to step in.”

“Here’s the problem,” Mr. Obama said, “It’s almost like they’ve got — they’ve got a bomb strapped to them and they’ve got their hand on the trigger.  You don’t want them to blow up.  But you’ve got to kind of talk them, ease that finger off the trigger.”

So who is the Osama bin Laden of the banking industry? AIG CEO Liddy?


Great article from Mona Charen of NRO at Real Clear Politics:

Obama’s Strange Habit of Denying What He’s Doing

Two wonderful paragraphs:

With the public suitably frightened and biddable, Obama now strides to the podium and begins prescribing particular government policies. (Have you noticed his troubling habit of denying what he is doing? For example, in his speech to Congress he said he asked for the stimulus bill “not because I believe in bigger government — I don’t.” And in recommending a bailout of mortgage holders, he denied that any relief would go to “speculators” or those who “bought more house than they could afford” but that is exactly what the package will do.)

And this:

Obama, like other liberals, wants to dispense with experimentation and debate (which he dismisses as the “the same old gridlock and partisan posturing”) and sluice an enormous liberal/socialist wish list, to include single-payer health care, universal college education, and so-called green energy into law.

Obama’s revisionist economic history is dishonest.  Combine this with his “trust me” attitude of anecdotal non-analysis  and the Democratic majority will ruin this great country.

WSJ has the transcript here.

Michelle Malkin here.

Hot Air has commentary and an open thread.

Flopping Aces has Obingo!

Jim Treacher has a different take on the speech.

Bobby Jindal response here.

If you didn’t watch or hear the speech, here’s a summary:

College Education- Right

Home Ownership – Right

Healthcare – Right

Well-paying  Job- Right

Actually Working – Optional

More summary/satire/sweet release:

– Wall Street executives are evil

– Small business people are not evil

– Private jets are bad, except for, um, ehem, the President

– I have followed through on my tax cut to everyone.  Please enjoy your monthly government-provided car wash, dinner at Olive Garden, or Vonage phone plan.

– Government’s role is to save you.  Things don’t take care of themselves (free market).  Even though the market is the people, you don’t know what you are doing.

– We will cut the huge deficits in half right after we pass the largest spending package in the history of humankind.

– The government will give you “free” healthcare.  We will cure cancer.  Healthcare reform will happen now.   This is your right.

– College education is now a right.

– National or community service (working for a liberal front group) will be generously rewarded with college tuition discounts.

– Recovery plan is free of earmarks.  I guess a lie becomes true if you keep repeating it.  Who said that- Vladimir Lenin.

– You will receive a tax cut if you don’t make a lot of money.  Have your cake and eat it too!

Yet another episode of:

Please increase your payroll deductions to help this suffering family!

I’ve heard, from a confidential source, the family only has Formica countertops and Linolium flooring in their bathrooms.  Please do not let this family continue to suffer!

Yet another gem from Michelle Malkin.

This from WJZ in Baltimore via Michelle Malkin and others:

The article is here:

ACORN Trains Citizens To Protest Home Foreclosures

Question: What makes this home hers?  What makes this an ACORN house?

Such a strange combination of housing/economic/laissez faire is dead stories over the last few days. – Laissez-Faire Capitalism Has Failed

I see, we need more intervention to make everything better.   Please continue to force banks to give us more loans we cannot afford.  What’s DiTech’s number again? – Can’t pay or won’t pay? Barack Obama’s team wades into a debate over what is driving foreclosures.

Everyday people without PhDs in economics get it.  Michelle Malkin has great coverage on the Obama protests in Arizona.

Sowell’s latest column on the crisis is perfect:

Government regulators refused to approve such decisions when a lender was under investigation for not producing satisfactory statistics on loans to low-income people or minorities.

Under growing pressures from both the Clinton administration and later the George W. Bush administration, banks began to lower their lending standards.

Mortgage loans with no down payment, no income verification and other “creative” financial arrangements abounded. Although this was done under pressures begun in the name of the poor and minorities, people who were neither could also get these mortgage loans.

That’s the free market?  Come on.

Strange indeed.

Perhaps Bill and Ted said it better: