Ping!
Where is Barney Frank? And some of the cast of clowns and Fannie and Freddie, like Franklin Raines and Jamie Gorelick?
—bflr—
Interesting and thorough article of how we got into this mess.
Everyone should forward it to Bob Herbert at the NYT who fulminates in the rag today that it was all the Republicans fault for cutting taxes. Incredibly stupid man.
LOL! Under comments one poster said:
“Minor players every one of them. The only real baddy is Milton Friedman.”
Ya gotta love the “euro weenies”!
I remember when I graduated from undergrad business school in 1988 I wrote James D Wolferson for a job. He said I wasn’t experienced enough. And to think it’s the Ivy league MBAs who have effed up the world.
http://www.freerepublic.com/focus/f-chat/2172038/posts
Barney Fag and Chris Dodd at the heart of the mess and yet still walking free. These two should share a cell together for the next 50 years. Remember the old media screeching about Enron, an insignificant loss of a few million compared to the trillions foisted on our children and grandchildren to pay for the corruption of our sniveling liberal politicians.
Pathetic list. They list Soros almost heroically as one who “saw it coming” and warned the world, lol.
Soros spent about one billion to buy the Dem party, control key Congressional committees which caused and exacerbated the bubble, and timed the burst for maximum electoral impact, thus buying him a toady in the Oval Office.
For that $1B Soros gained about $5B in profit, and he still owns the Dems and Obama. Pretty sweet deal.
Yeah, he saw it coming, because it was HIS plan.
...let’s not forget HGTV...that piece of dung network regularly shows young couples buying a first home, becoming distraught because the kitchen counters aren’t granite and the f-—ing master bath and bedroom aren’t big enough...I get incensed when the wife eagerly fips this show on, and I have to listen to men who are so cowed by their mates as to worry about the ‘flow’ and ‘warmth’ of the rooms...whatever happended to the basic three bedroom house with one and a half baths and a one car garage for a starter home???
“BoA recently paid billions to settle investigations by various attorney generals for Countrywide’s mis-selling of risky loans to thousands who could not afford them.”
No doubt taxpayer’s money, too. Nifty, huh?
ping
In 1999 Clinton repealed the Glass-Steagall Act, which ensured a complete separation between commercial banks, which accept deposits, and investment banks, which invest and take risks. The move prompted the era of the superbank and primed the sub-prime pump. The year before the repeal sub-prime loans were just 5% of all mortgage lending. By the time the credit crunch blew up it was approaching 30%.
Why am I NOT surprised?