Krugman points out the media complicity in treating these morons as credible:

So Rush Limbaugh, Bill O’Reilly, and Karl Rove all claim that the financial crisis was a liberal conspiracy, generated either by evil mastermind Chuck Schumer or by wily journalists.

Why does such stuff flourish? Probably because there is no punishment for it — as long as you’re on the right, and I mean right, side. Let Michael Moore point out, entirely correctly, the close ties between the Saudis and the Bush family, and he’s blasted as a crazy conspiracy theorist. On the other hand, let Donald Luskin suggest, in 2004, that George Soros is planning to engineer a financial crisis to defeat Bush, and he gets to publish front-page articles in the Washington Post Outlook section declaring that there isn’t a recession.