What exactly is “greedy lending” anyway? The “greedy” lender searches that land for those poor innocent bastards that (because they have no income and bad credit histories)can’t repay their loans. Nevertheless, I trick them into taking the money (at least this is what Obama says), and I MAKE them take my money. As I am a greedy, miserly, Ebeneezer Scrooge, I just can’t wait to lend my money to bad credit risks. (Sheesh)
And another thing you’ll notice about the article: any mention of S&P.
The ratings agency is owned by McGraw Hill, which also owns Business Week, so not a single, solitary word about how the mag’s corporate sister was giving great ratings to all the outfits that soon thereafter went bust.
If Bush didn’t exist they would hae to invent him — a handy receptacle for absolute blame on any given topic.