Wasilla, Alaska At a strident news conference...that some observers described as a "hysterical hissy fit"... an adamant Sarah Palin delivered a passionate defense of beleaguered Wall Street investor Bernie Madoff...calling his brilliance as a money manager exemplary of the entire attitude of Wall Street during the "go-go" economic boom of George Bush's term in office.
Other economists have pointed out that Madoff's Ponzi Scheme was really no different than the "House of Cards" built up by Alan Greenspan, working in consort with (as every Federal Reserve Chairman does) the current president, at the time, George Bush ... in which Republicans created a dramatically unregulated market, encouraging every form of unbridled greed, misrepresentation and corruption.
Harvard Professor of Political Science, Barney Hampton, observed "During the supposedly vibrant economy of the Bush years, we were told that fully 25% of the economy, as measured by consumer spending, was the result of the low interest rates generating the Housing Bubble."
"This resulted in dramatically high levels of consumer spending, as citizens with no money down, bought homes to flip and sell for a profit, took out home equity loans to pay for Christmas presents, and trips to Hawaii, and this "funny money" flowed into the home construction business, hiring record numbers of construction workers," Professor Hamptom noted.
Professor Hampton continued, "Much of the rest of Bush's economic sleight of hand, was created by ramping up government spending to record levels, and at the same time putting this spending on a credit card for future generations, by cutting taxes, resulting in the bankruptcy of the country."
Sarah Palin's voiciferous defense of Bernie Madoff, has led many to speculate that she may choose him as her running mate when she runs for president in 2012.
Editors note: Evan Essence received his Masters Degree in Journalism (2003), and his PhD in Political Science (2004) from House-of-Spam Internet Marketing