While in the gym locker room I was watching some of that garbage.
Everyone had the same opinion. “We don’t know if GoldmanSachs is crooked or not, but we sure as hell know that you dirty SOBs on the panel sure are.”
There is a maxim that you try to reduce the amount of taxes you owe as much as you can. So the rich hire lawyers and accountants to find loopholes and arrange trusts and other ways of protecting theirs. The not so rich claim every deduction they think they can legally get away with. The poor and single simply say it's a shitty deal all around and just file a 1040EZ.
So whichever way you play you're usually trying to get the best deal for yourself. So why is anyone surprised at the Wall Street banks for getting the best deals for themselves with the housing loans they were forced to give?
The government knew the banks would hedge their bets because that's what banks do to ensure that no matter what they come out on top. The banks knew they would hedge their bets when they put up no resistance to the legislation enacting them to give potentially faulty loans because there was nothing in the new law telling them they couldn't!
(you can bet your bottom dollar if they couldn't find a way to make a dollar they would've bitched)
The rich and those "in the know" threw tons of money betting against the loans being made because only a fool, or a government flunky, would be stupid enough to believe that the loans would
ever be paid back in full.
Everyone, politicians and bankers, knew what was going on and they've all made their money off of it because nothing is against the law and until legislation is put in place to stop the whole game, which is still, and has been, going on since Black Monday they're going to keep on raking in the chips.
So now Congress wants to put on a donkey show to screw the banks and the banks all say "It isn't my fault, you didn't tell me I couldn't!" and the American people look on in a daze while the picker continues working the crowd.
(if I'm too simplistic or astray then someone please correct me)
