- - Monday, August 8, 2011


Moore tells Obama ‘show some guts’

Liberal firebrand Michael Moore called on President Obama to respond to the U.S. credit downgrade by arresting the leaders of the credit-ratings agencies.

On his Twitter feed Monday, the Oscar-winning film director also blamed the 2008 economic collapse on Standard & Poors — apparently because it and other credit-ratings agencies did not downgrade mortgage-based bonds, which encouraged the housing bubble and let it spread throughout the economy.

“Pres Obama, show some guts & arrest the CEO of Standard & Poors. These criminals brought down the economy in 2008 & now they will do it again,” Mr. Moore wrote.

Standard & Poors, one of three key debt agencies, stripped the U.S. federal government of its AAA status Friday night and reduced it to AA+ for the first time in the nations history.

Mr. Moore went on to note that the “owners of S&P are old Bush family friends,” continuing a theme he has developed through several films about capitalism as essentially a crony system for the rich and Wall Street, especially the Bush family.


Rangel: ‘We look like a bunch of clowns’

Rep. Charles B. Rangel, New York Democrat, said Monday the congressional fight over raising the debt ceiling has seriously damaged the country’s standing in the eyes of the world.

“What we have done is really an embarrassment to ourselves,” the veteran Democratic lawmaker said during an appearance on the Washington Times-affiliated America’s Morning News radio program.

“Nobody would ever believe that a handful of people were willing to take Americans over the cliff in order to reach a political goal,” he said. “We look like a bunch of clowns.”

Mr. Rangel said it was too easy to pin blame on the tea party alone.

“The truth of the matter is, it’s the United States of America that scared the hell out of the investors.”

The congressman said the first step to fixing the country’s fiscal woes is tax reform that would bring in more revenue.

Story Continues →