I think I've figured out the timing of the financial "crisis" from the White House. It was designed to distract us from the expiring ban on offshore oil drilling. And now, thanks to our incredibly spineless Democratic Congress, that ban is done gone, despite significant opposition from its own constituency. Argh!
Why this is idiotic: offshore drilling will provide no appreciable benefit for at least 10 years. In the meantime, it distracts energy companies from focusing the majority of their time on alternative energies. Not to mention that it opens the door for unstudied environmental impact.
More info:
Colbert Parodies Big Oil’s Greenwashing Propaganda (Watch this one first!!!)
U.S. House votes to lift ban on offshore drilling
House lifts offshore drilling ban in passing $630B spending plan
