Republicans blame Senator Schumer for bank failure

By GottaLaff

Commenter Chris got me started, so big hat tip to her. The Republicans are actually blaming Democratic Senator Chuck Schumer for the recent bank meltdown and starting an entire campaign (read: news cycle) about it. Yes, it's all his fault. One person caused the collapse of a whole financial system, and his name doesn't start with "George W".

Now, Schumer isn't always my ideal Democrat, but he doesn't deserve to be "Schumered":

Here's the story. A major bank failed yesterday, and a Bush appointee in the government put out a statement directly blaming Democratic Senator Schumer. So the narrative the right is pumping out is that "the government" says Schumer is at fault for the bank failure. (What Schumer did was say that the bank appears to be insolvent because it was. Republicans say this "caused" a run on the bank. The fact is the bank was closed because it was insolvent, not because people were taking their money out. Runs can't cause SOLVENT banks to fail because the Fed provides all the cash needed during a run. The FDIC closes banks that are NOT solvent. But facts don't matter.) I suspect you'll be hearing a lot more of this from Limbaugh Monday.

If you'd like to really get angry, go read what the righties are spreading around, here, here, here, here, and here. Or just go here for a recap.

As Johnson points out in his piece, the Democrats could have stepped out ahead of this one by emphasizing how the cost of the war or the huge borrowing that resulted from the tax cuts destroyed our economy. Instead, we get to watch the right wing gas bags spew out their usual bile, the corporate media will recycle it, the public will buy it, and Democrats will have to expend an inordinate amount of effort digging their way out of it.

The Democrats' being put on the defensive when they're on the right side of any given issue is sadly redundant and becoming grotesquely common. And what's worse is, they often bring it on themselves by not learning from past... and by past, I mean the past 200+ years.

You'd think they'd wake up by now.