Sunday, September 18, 2011

Divorced From Reality

It's no secret that Rethug Rep. Michele "The Minnesota Loon" Bachmann makes up her own "facts," except when she's listening to the rubes that attend teahadist events and whisper conspiracy talk to her. Now, she's claiming that Wall Street regulation is "killing the banks," only three years after the minimally regulated investment banking industry brought the economy to collapse. Even among many teahadists, it's a widely unpopular view that, gosh durn it, we're stifling Wall Street's ability to risk the economy again in credit default swaps and worthless derivatives, but that won't stop the Minnesota Loon from espousing it.

Her claim that the Dodd-Frank banking regulation law is killing the banks is nonsense when you look at the double digit profits that these same banks are reporting. That simple fact won't stop the Minnesota Loon from spinning her own reality-free wingnut mythology.

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