Think Progress (TP) reported today that Right-wing talk radio personalities are preparing to attack President Obama at every opportunity. Bloated drug addict Rush Limbaugh is already promoting the laughable theory that the current economic crisis is the work of the Democrats. (Never mind that the Republicans have had Congress from 1994 to 2006 and the White House since 2000...)
Specifically, TP reported that Limbaugh is claiming that Sen. Chuck Schumer (D-NY), "caused on run on IndyMac bank in California this summer, in order to create a feeling of financial panic amongst the public. Democrats then capitalized on this panic with electoral wins in the White House and Congress. The purpose of gaining this power, according to Limbaugh, was to nationalize U.S. industries..."
Clearly, conservative talk radio personalities are cynically banking on the idea that their listeners are so stupid that they might actually think that the entire crisis was cooked up in a matter of months. Unfortunately, they're probably right that their listeners are easily duped. The reality is that chief among the roots of the crisis is a Republican philosophy that paired a laissez-faire attitude toward the mortgage industry with a zealous dream that if the Republicans could only turn every American into a home-owner then they could cement for themselves a fabled Permanent Republican Majority in Congress.
I bet you'll never hear a conservative talk about the Bush Administration's "Homeownership Challenge."