I’m not going to say that I know the inner workings of the financial mess we find ourselves in. But sometimes people at the top must take the fall for a mismanaged event. Why is is preposterous to say that the leaders of Fannie and Freddie and Lehmann and Merill should be ousted, but not the leader of the organization installed to oversee them. Can someone explain this. It seems the very least we should do. Am I supposed to care that much about this one man? Now, if there’s something we don’t konw about...maybe he tried to do something but was shot down..then I’ll take another look. But as of now, I don’t understand.
“I’m not going to say that I know the inner workings of the financial mess we find ourselves in. But sometimes people at the top must take the fall for a mismanaged event. Why is is preposterous to say that the leaders of Fannie and Freddie and Lehmann and Merill should be ousted, but not the leader of the organization installed to oversee them. Can someone explain this. It seems the very least we should do. Am I supposed to care that much about this one man? Now, if there’s something we don’t konw about...maybe he tried to do something but was shot down..then I’ll take another look. But as of now, I don’t understand.”
Consider that when Enron failed, there was widespread outcry and criminal charges. That failure affected thousands.
The failure of FM & FM, as well as the bailouts taking place for the select few, place a financial burden on everyone in the country. It will affect hundreds of millions of people. $1 trillion of debt instantly saddles every citizen of this country with over $3,000 in debt.
We need to see a real, tough response to whatever shenanigans led to this mess. Not golden parachutes handed to ex-executives of failed enterprises.
BTW, Bush did try to do something about this years back, but Congress didn’t let it happen.