[rightwingintelligentsia]

Funny; Chris Dodd and Barney Frank aren't on the list.

[Dapper 26]

Countrywide would not have offered subprime loans if Fannie Mae and Freddie Mac didn’t buy them. The problem isn’t the lenders as many in Washington want us to believe.

[Mrs. Don-o]

bttt

[BlueCat]

And Time wonders why they’re losing customers.

[smokingfrog]

Here is the flawed Time list:

1. Angelo Mozilo – Co-founder and former head of Countrywide
2. Phil Gramm – Chairman of the Senate Banking Committee from 1995 through 2000
3. Alan Greenspan – Former chairman, Federal Reserve
4. Chris Cox – Former chairman, Securities and Exchange Commission
5. American Consumers
6. Hank Paulson – Former Secretary of the Treasury
7. Joe Cassano – Founding member, AIG’s financial-products unit
8. Ian McCarthy – CEO, Beazer Homes
9. Frank Raines - Former chairman and CEO, Fannie Mae
10. Kathleen Corbet – Former CEO, Standard & Poor’s
11. Dick Fuld – Former CEO, Lehman Brothers
12. Marion and Herb Sandler – Former heads, World Savings Bank
13. Bill Clinton – Former U.S. President
14. George W. Bush – Former U.S. President
15. Stan O’Neal – Former CEO, Merrill Lynch
16. Wen Jiabao – Premier, China
17. David Lereah – Former chief economist, National Association of Realtors
18. John Devaney – Hedge fund manager
19. Bernie Madoff – Ponzi scheme orchestrator
20. Lew Ranieri – Father of mortgage-backed securities
21. Burton Jablin – Programmer at Scripps Networks, which owns HGTV
22. Fred Goodwin – Former chairman and CEO, Royal Bank of Scotland
23. Sandy Weill – Former chairman and CEO, Citigroup
24. David Oddsson – Former Prime Minister, Iceland
25. Jimmy Cayne – Former chairman and CEO, Bear Stearns

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Some I agree with - some not.

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see what you think of this one

[Psycho_Bunny]

Is it just me or are there no "currently in power" Democrats on that list.

Also, "Consumers" like me? I don't think so. Screw you, Time.

PS, hope you have fun on your inevitable bankruptcy.

[dragnet2]

Here's Bush in his speech pushing home loans for millions of unqualified minorities.

http://www.youtube.com/watch?v=eW9viaJatpo

[jonrick46]

I agree with Chris Dodd and Barney Frank. I also agree with the blame going to Phil Gramm. Don't forget Chuck E. Schumer.

[UCFRoadWarrior]

American consumers to blame?

That is nutty....especially we are always told that Consumer spending is 70% of the economy....

Some of the names definitely deserve to be on here...and they even included a Communist Chinese (which is actually reason #1 why the economy is slipping...that multi-trillion $$$ trade deficit...and the ChiComs thinking the US can continue to make good on it)

[Uncle Miltie]

If Alan Greenspan or Ben Bernanke are not at the top of the list, then it is wrong.

The initiation of the housing bubble was caused by excessive money supply in 2003 - 2005.

The other attendant structural problems contributed to, but did not initiate, the bubble.

[Chode]

i don't see the peanut farmer on there either...

[org.whodat]

Stupid is as stupid does!!

[ThomasThomas]

We need two lists.

First The Enabler / Persuader

Barney Frank and other elected to government offices and their appointees. These people set up the rules and system that were and still are very coercive to bad these loans.

Second The executioners (those did the deeds)

While most bank were forced into doing some of these loans there were some who took advantage of the system for their own personal enrichment. Angelo Mozilo is a good example of the second group.

There should be many more on each list with each ranging from useful dupes to criminal conspirators.

[SuziQ]

Bump for Monday reading