I have to admit that President Obama has delivered in spades on his promise of change. Since he moved ahead in the polls back last October, the stock market has lost roughly a third of its value and shows no sign of bottoming out. Unemployment and home foreclosures have skyrocketed. Consumer confidence is at an all-time low, stifling the economy.

In all fairness, Obama can’t take all the credit. Bill Clinton’s politically-correct administration went to ridiculous lengths to increase home-ownership rates, whether buyers could afford them or not. In his last days in office, Clinton signed off the Commodity Futures Modernization Act of 2000, eliminating reasonable regulations, removed derivatives and credit default swaps from the purview of federal oversight, gave Wall Street immunity from state gambling laws, legalized activity that had been banned for most of the 20th century, and led to the self-destruction of Enron, Bear Stearns, Lehman Brothers, AIG, etc. (reported on “60 Minutes” last October).

Then there was the Congressional Democrats’ 2004 cover-up of all the crookedness in Fannie Mae and Freddie Mac and their claim the government would never bail them out.

Of course Clinton had years to make his changes. Obama’s only been in office a little over a month. Wait till he really gets rolling.

Gary T. McGavran, Bellevue