“This is a problem created by Republicans.”

- Democratic Senate Majority Leader Harry Reid earlier today.

As said earlier, I sure am happy that Democrats are not politicizing this issue. Perhaps I should add that I am glad they’re being honest.

Why do I say that? Because every single expert on the planet says that this ‘problem’ was created by both Democrats and Republicans. Lest we forget, Democrats were in charge for the last two years, and they did not do anything to stop the problem either. And if we go back to the very start of the problem, we will have to go back to around the year 2000. Lets think, who were in charge of Congress then?

Right.

He also lashed out at John McCain. Again. Saying “we don’t need presidential politics” in this debate. “Guess who came to town,” and all broke apart, Reid said.

Harry Reid proves to be one of the worst American politicians in the modern era. Of course, he already was horrible, but he is making himself look even more horrible by his partisan posture during times of crises. The man is simply not capable of finding solutions for big problems facing the States and, thus, the world.

Republicans, meanwhile, aren’t innocent either. House Republicans are obviously playing politics. They are at this moment objecting to the ‘bailout’ because they receive angry phone calls from their constituents saying they oppose the bailout. These House Republicans then publicly say that private individuals and companies can take care of the crisis; a silly statement. And they know it’s a silly statement, but they don’t care; they want to be reelected. And, in order to get reelected, they’re willing to gamble.

For those who don’t realize just how big the problem is: banks borrowed from each other. They took over loans, etc. They now refuse to lend money to other banks. This means that money is not circulating. When money is not circulating, the economy freezes. When the economy freezes, it’s in trouble. This is made even worse by the following: where the Great Depression was caused by private citizens running to banks to get their money – something banks can’t possibly allow without collapsing – it are now financial institutions who are panicking. The reason for this is that they do not know just how big the debts are and are not sure what companies will suffer most.

So financial institutions run to each other, demanding their money, while not being willing to lend money to other such institutions. The result: financial institutions will collapse. Some have collapsed, others will collapse if the government does not intervene now.

And when those companies collapse, what do you think will happen to other companies? If there’s no money to go around, they too have trouble. They can’t get money they need from their banks. The result? Chaos.