“More ‘blood in the water’ or another ‘red herring’?”
Blood in the water. The lenders screwed up big time. And it doesn’t help the lenders that there happens to be a ‘soak the rich’ focus in the executive branch.
The lenders deserve the flogging they’re going to get. Not because of their economic status, but because of their egregrious conduct.
Back in September 2008, at the height of the Greatest Crisis In The History Of The Universe, when Hank Paulson was on his knees in front of Nancy Pelosi, I was steadfast here on FR in advocating that the banks be made to eat their own dog food, and that nothing good would happen in the economy until they did.
You would not BELIEVE the ration of crap I caught for this. It was "Shut up you Commie, we have to save the investment banks!! Sweet Mother of Mercy, save the suffering banks!!" from a whole corps of Freepers who have since had the good sense to STFU.
And still, nothing good will happen in the economy until the investment banks owning MBS come clean, and honestly value their balance sheets.