THE SCAPEGOAT RACE IS ON!

"damn those poor people for losing our money!"
There's been a disturbing trend amongst pundits of late to try to blame the current financial debacle at the feet of poor people and people of color. It's a remarkably brazen smokescreen that smacks of the kind of racially-driven reactionary politics we've seen whenever the economy runs poorly.

Among other places, Slate.com's Daniel Gross deconstructs (read: demolishes) the argument as its currently being laid out.

Seriously, is there anything the far right won't blame poor people and people of color for? Global warming (oh wait, that's not man-made)? Missing socks? The Cubs?

I should add: I know it's the trend, especially in the media, to reduce large, complex problems to simple soundbites but this really isn't serving anyone. I think it's equally naive and problematic to assume "fat cat lenders" are solely behind this mess or that de-regulation, by itself, explains it. We are where we are because a whole clusterf*** of things happened (and continue to happen) and as desirable as it is to point a single finger, we need more hands than Kali to do the issue justice.

I'll also add: I caught myself earlier this week, reading the headlines and thinking, "hey, the market is tanking...good for Obama!" as if wanting an election outcome should come at the price of our financial system imploding (and my family's finances along with it). I'm mentally and emotionally exhausted by this race and at this point, Nov. 4th really can't come soon enough so we can stop viewing everything through the prism of the election.

--O.W.

SOON TO BE IN YOUR INBOX

would you loan this man $800B?

"Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbail✧✧✧@treas✧✧✧.g✧✧ so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson"

(Seen here).

--O.W.