Shifting the blame from Left to greed

Blaming greed for failed leftist policies

Donald Hank

The Pope has said, over the Christmas holiday, that the world must overcome greed to get through the current economic crisis.

With all due respect for the Pope, whose stance on social issues are to be applauded, both Protestantism and Catholicism, while blaming greed, have failed to grasp the nature of the Left and its role in crises such as the financial and economic crises gripping the world.

The CRA (Community Reinvestment Act, passed under Jimmy Carter) and the way it was enforced, including the role of ACORN, played a major role in bringing down the banks. Generally, the trend to lend money, particularly mortgages, to people with no down payment and even without proof of employment, goes against all common sense and good banking practice, which has been in place since the beginning of time and throughout the world, and has proved disastrous. And yet so many are in denial, even to the utterly absurd point of casting all the blame on conservative policies and seeing the Democrats as being more economically astute and hence capable of pulling us out of the current crisis of their own making — sort of like Clinton “reforming” the failed welfare created by his party. Anyone paying attention in the years since 1995, when Clinton ordered the banks to lend a trillion dollars to “underserved communities,” would have been able to foresee this collapse. Some actually did, including a New York Times writer in 1999.

I suppose it could be argued that the Left, in its own way, represents greed, but it is probably more appropriate to call it ideologically motivated rather than greedy. Ideological motivation, rather than common sense, has caused the greatest destruction known to man — under Stalin, Mao, Pol Pot, etc.

None of these men’s political actions were greed-motivated in the accepted sense of the word. In their decisions that led to the murder and starvation of millions, they were, however, blinded by leftist utopian (revolutionary) ideology — a desire for a better world, for change, and ironically, for a world with less greed.

Ideology killed 100 million innocent people in the last century (see “The Black Book of Communism by Stephane Courtois). No other factor, including greed, has ever done anywhere near that much harm.

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5 Comments on "Shifting the blame from Left to greed"

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I also have read “The Black Book of Communism” and concur with your brief analysis. That book is Augustinian-like, in that ex-commies fearlessly expose their own blindness and errors. As a devout Catholic, I am dismayed whenever the American bishops issue statements that encourage more and more welfare programs. It’s as if there is an obligation to vote for more socialism! These foolish bishops totally ignore the genius Heinrich Pesch, an early 20th-century Jesuit & economist who actually puts out an economic & social system to rival Keynes, Marx and even Smith. Called “Solidarism”, it is the essence of his… Read more »
Larry Fuess
I would contend that it is greed, the left’s greed for power and your money, that has caused the financial crises, and that by design. You can expect more of the same in the future, as they consolidate their New World Order. All world currencies will be destroyed as they finish their corner on the world gold market, and at that time reinstitute gold as the only real money. Every bank, government and people will have to go to them to get money to lend or to buy anything. While hiding behind the leftist ideology, they execute their monopolistic plan… Read more »
Walter Schneider
Don, Your analysis of the greater context of the cost of ideology vs. common sense is excellent. Does it go far enough? Without being able to point to any sort of study that examines causes for indicators of the health of the economy and to specific ups and downs over time, I can only wonder whether the Community Reinvestment Act (CRA) can possibly be the sole or even controlling cause for the catastrophic bottoming-out of the economy. Here is one example that causes me to be cautious about focusing on a single cause for the downturn. While sleuthing for information… Read more »
Larry Fuess
Walter, I think you are on track about the “massive, longstanding, increasing and accumulating deficit financing” by the governments of the world. Nevertheless, the CRA is a very big factor in that it was fed into the Credit Default Swaps gambling addiction on Wall Street that was initially fueled by the Derivative Market, both of which have left these large banks and investment firms functionally bankrupt. These together will total more than $600 TRILLION world wide. These instruments were fraudulent from the get go, and I suspect the purpose was to bring down the world financial system. No one is… Read more »