Unless you went to sleep a couple of weeks ago, it must be quite clear that this fiancial crisis didn't just happen And, all the finger pointing at Wall Street (and I think they are mostly weasels) was a diversion away from the real culprits. The congress put incredible pressure on Fannie Mae and FreddieMac to lower the standards to allow more lower income and minority people to buy houses. Yes, that means people who could not afford them. Then, add on top of that the lack of supervision by the Departments of Real estate and Lender oversight regulators at state level, mortgage brokers really scammed the system with no doc loans, cleverly called stated income. Everyone knew they were cheating but no one did anything. Now, look where we are. And, our politician come up with a bail out program. First it was $700 billion. Now it is $850 billion and growing. Why did they need to add another $150 billion of SPECIAL programs except to push their little agendas.
Anyway, enough ranting. We have the government we deserve based on who we vote into office. So, stop whining or get involved in someones campaign to throw them all out of office, no matter what party.
As a followup, there is an excellent article in the Boston Globe (not exactly a conservative think tank) about the culprit behind this mess. Here is the linK
http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2008/09/28/franks_fingerprints_are_all_over_the_financial_fiasco/
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