Posted on 04/04/2009 7:17:13 PM PDT by surfer
bump
It is a shame when Sanders is more law and order than most others in the Senate. He has an agenda of course, but still... Republicans could win massively if they went the law and order route. It would take finesse, and going after any and all who are complicit, including Republicans. Something has to change soon for the good of the country. VERY soon.
Yeah, given that four out of the Keating five are Dems. Bill Moyers cannot mention that. Moyers is so left he’s off the cliff.
This is the general problem with regulation - integrity.
Self-interest is a natural human trait. It is always the other guy who is greedy, but we’ve seen it in our dearest friends and family and even in ourselves.
Cops regularly rewrite incident reports when it turns out they were against a politically protected person, other government employees are subject to the same pressure. Why wouldn’t our regualtors allow things to “happen”?
The history of regulation is one of corruption. Why regulate more? Would two mobbed up cops be better than one?
Absolutely correct. The solution was bankruptcy for the banks involved and AIG too.
It would have lead to a revolution in earlier times, but a century of public schooling has eliminated the study of liberty from our classrooms.
These were not desperate people, like those who go into a payday lender. These were not people who were evicted from their rentals and had to buy a house before sundown or sleep on a grate. Buying a house is not like charging a flat screen TV at Wal-mart. Buying a house takes considerable effort on the part of the buyer. Therefore, some portion of the blame must also lay at the feet of the individual home buyer, who either lied on their application (even if encouraged by the mortgage agent), and willingly entered into a loan they knew they could not afford after the teaser rate expired.
There can be no liar loans unless someone walks into a mortgage lender and asks for a loan. And unlike the payday lender, who is competing with no other market, the mortgage lender is competing with a huge rental market. There can be no true desperation on the part of a someone seeking a mortgage.
Black misses or ignores this entire side of the equation. Mortgage brokers were not selling mortgages to each other, they were not selling mortgages to fictional people for fictional houses. They were selling mortgages to real people buying real homes.
Greed, and the corruption greed spawns, were the causes of this crisis. Greed and corruption at the political level, the business level (investment bankers, mortgage lenders, housing builders, and real estate agents), and the individual level (house flippers, speculators, and people desiring to live beyond their means).
I don’t think Black misses it. We all know the story about the people and their liar loan.
What the public is missing is the point of the massive cover up by this administration, the past administration, the bankers, the fed, the treasury, etc...etc...
The fact that the very same people that created this mess, knew it was going to blow up, did nothing about it and now at the cost of 10’s of trillions of dollars are covering it up.
That is the part to outraged at. It cross both parties and the corruption ultimately is rewarded in this country and that has to stop or we will cease to exist.
You should watch it.
The point is the blame crosses multiple administrations, parties, etc. He points out what Geithner and Obama are doing right now is criminal. It is clearly against the law
But what is really important is the fact that corruption and cover up is the name of the game in Washington and we really need to take note and work to expose ALL OF THEM regardless of party, etc.
Until we eliminate these crooks and their cronies from our system we are destined for an abysmal failure.
I don’t think he let anyone off the hook. Remember where this discussion we held at PBS...do you think that overnight they are just going to be honest...lol?
But there is enough here to start working on uncovering all of it. Once we follow the money trail we will be able to expose Dodd, Frank, Schumer, etc...
Let’s hope so. But remember, the Dems own Congress right now ... and it is by no means certain that influential Republicans are not also complicit in this ... so there is no real enthusiasm to daylight things, yes?
bttt
Can you say independent counsel?...lol...this may be our only chance in the next two years to get something investigated but I believe in 2010 the wind will shift and then if the liberal dems are neutralized we need to demand all of this to be investigated and we need anyone who is tied to this stuff to be investigated regardless of party...or we will just let the Republicans screw us over again and have America vote the Democrat brand of crook back in.
Thanks that is a good article...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.