A little ironic?? Don't ya think????

So, it was announced today that JP Morgan Chase is buying Washington Mutual Bank. WaMu is now known as the greatest bank failure in the history of the U.S. For those of you who don't watch as much tv as I do, this is the bank that in its own commercials makes fun of the all of the old school banks, constantly making fun of the old white guys in their stuffy three piece suits and how they don't care about the common man. WaMu attempted in these commercials to be the new alternative for all of us.

The reason for their failures? If you said bad mortgage debts, then you guessed correctly. They had amassed billions of dollars in failed mortgage loans, and this was their only way out. The reason that this is worth blogging about is that this institution prided itself in serving the people that probably (ok, definitely) did not need to be purchasing a home in the first place. Not to sound cold-blooded, but they asked for it. You loan billions of dollars to unqualified borrowers and the writing should have been on the wall from day one. While the Democrat-led Congress of the late 80's and early 90's pressured lenders to get more citizens into home ownership (pandering to the masses as per usual), they also created this crisis that we are facing today. I am amazed that WaMu and the rest of the financial institutions, with all of their bright minds and great ideas, did nothing but go after short term profits when they had to have known that this would be the end result.

But don't get me wrong, this is not only on the shoulders of the lenders and the idiots in power of our federal government. Borrowers have to be held accountable for their decisions, as it is their signatures on the closing docs and their butts on the line when they bought these homes they could not afford.

Jim Martin for Senate in GA??? Yeah right.

So I saw this commercial on tv last night for our state's Senate seat challenger, the venerable Jim Martin, who is a Democrat. And like all the rest of the socialists, he equates his competitor, a Republican, with 'George Bush economics'. (On an aside, that is a great label, b/c we all, supporters included, that that GDub isn't the sharpest tool in the shed). My beef with the ad is that it claims we are in a recession. Doesn't sound too wrong, does it?? That is only because we have had it beat into our heads by the liberals and the media (is that a redundancy) that we are in a recession. By definition, a recession is a period of two consecutive quarters of negative economic growth, or a negative GDP. Last time I checked, we have had ZERO quarters of negative growth. Not one. Not two. ZERO. Which means, by definition, that we are not in a recession. I know times suck right now. I lost my job and I have been looking for one for over two months with little luck. But just because things could be better does not mean we are in a recession or heading for a depression. Its word choice and blatant lies like this ad that only exacerbates the problem. So, of course I emailed Jim Martin's campaign, and gave them the truth, and all I got was a lousy canned response saying that Jim Martin cares what I think. What a load of crap. If he cared, then he should stop insulting my intelligence and speak the freaking truth instead of manipulating the voters to think that we are in the gutter and only the Dems can get us out.