Fannie Freddie Phony – Paul Krugman Blog – NYTimes.com.

Klugman takes Arnold Schwarzenegger to task for his false statement about a Fannie/Freddie connection to the subprime mortgage crisie.  He comes to the conclusion that the phony account of the crisis is now part of Republican orthodoxy: “part of what you have to believe to be a respectable member of the party.”

Nothing can be solved at the governmental level when politicans believe the lies of their own spinmasters, and the neocons have such a great  machine in place that it even fogs reality for those that are in positions of governance.

Tags: crisis, error, politics

Richard Veryard writes in POSIWID: Don’t Waste A Crisis that:

Rahm Emanuel, just appointed chief-of-staff by President-elect Barack Obama:

“You don’t ever want a crisis to go to waste; it’s an opportunity to do important things that you would otherwise avoid. In 1974 and 1978 we never dealt with it, and our dependence on foreign oil never changed.” [BBC News, 7 November 2008]

And goes on to reflect on this comment in light of the cybernetic principle that the Purpose Of a System Is What It Does and comes to the conclusion that “A cliché is a terrible thing to waste.“

Tags: crisis, POSIWID