A post on ActiveRain this a.m. suggests that It Does Us No Good to Bash the Government. (Link omitted because it's not published to the PUBLIC.)
* * * * HARD CORE REAL ESTATE TALK * * * *
I DISAGREE. When the government has failed and the actions of government officials lead to significant harm to the citizens, they should be exposed and bashed.
I have a vivid memory of the time, 2003, when the White House tried to rein in the permissive loan guidelines of Fannie Mae, et al.,and they were thwarted by Congress, Frank, Dodd, et al.
I also recall the perfidy of Franklin Raines who manipulated the financial reports of Fannie Mae to increase his personal bonuses to the tune of $Millions of Dollars.
I also recall that Fannie Mae, the purveyor of loans to unqualified buyers was exempted from Sarbanes Oxley, thereby protecting Mr. Raines from criminal prosecution for his financial perfidy.
I also recall that it was politicians/government representatives, Phil Gramm specifically, who caused the repeal of the Glass Steagal Actthereby permitting the Wall Street Gangs to benefit in the $Billions by secuitization of by the GSEs of the MBSs, which subsequent defaults contributed to the housing collapse.
If an investigation of the facts and causes of our collective financial collapse places blame on those responsible and they turn out to be corrupt politicians/government officials, why should that not be encouraged??
If we don't expose the perfidy and incompetence of government officials now, how can we protect ourselves from them in the future???
Why let them hide under the veil of obscurity??
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
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