The question: Where is the oversight of banking system?
Chris Dodd: Senate banking committee
Barney Frank: House banking committee
Same two guys who started this financial forest fire to win an election. Problem is that the fire is out of control and they have no clue how to stop it.
Plus add in the huge amount of commercial real estate that is empty/abandoned. Those notes are typically longer term than residential but when that ballon pops, the banks are going to be left holding the bag. And since there is precedent for the ozero regime bailing them out, that will happen again. All done with our tax money.
well people need to make noise about it....these rats think they are pulling the wool over stupid american eyes