Replies

60 Minutes had a great segment this evening discussing Golden West, Wachovia, Wells Fargo, whistleblowers, etc. Google Herbert and Marion Sandler.

You thought that was great? Don't you imagine that 60 Minutes would have wanted to talk to the Chairman of the House Financial Services Committee (i.e. Barney) about this egregious abuse? That's SOP at 60 Minutes, after all, to bring in some Lefty talking head. Or at least they would have spoken to Chris (Country-Wide) Dodd, the Senate Banking Committee Chairman. This was a white-wash, pure and simple. I've got twenty bucks that says no one is ever convicted for this. This was diversion from the real fraud that was Fannie Mae and Freddie Mac, and a prelude to the upcoming "victimized homeowner bailout".

I thought it was pretty good considering it was 60 Minutes , but I was thinking as I watched it that they were leaving out an important part of the story. CBS was trying to make it appear that the lenders were the only guilty parties, absolving (or at least not mentioning) the politicians that passed the laws which gave the lenders the incentive to make these bad loans.