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There certainly is enough blame to go around Joe. None of them are in any way innocent.
However IMO if those responsible for oversite had been doing their jobs, the jobs we pay them to do, then a lot of this would have been been caught and questioned.
Short memories these libs have. You realize 0bama himself sued banks for not lending to people so they could buy houses they couldn't afford. Now he's suing them for giving risky mortgages............all this is going to come back to haunt him. If it doesn't it's a sad shame.
http://www.usmessageboard.com/law-and-justice-system/183532-in-his-activist-days-obama-sued-banks-to-ease-lending-practices-now-he-s-suing-banks.html
So according to you the banksters are innocent little lambs and the gubment put a gun to their heads to swinddle money from the American people.When Bush handed Obama the country, he left it in shambles, that's a well-known world-known fact.
The bulk of the financial disaster was caused by the shady dealings and policies the banksters instituded on the American population.
How many of you want to see some of these banksters in cuffs and marched off to jail?
How many of you feel that crime was involved.
How many of you even want the AG to investigate and get to the bottom of it?
Are you seriously going to ignore the FACT it was our own government that instigated the housing and financial crisis in the first place? The real crime was committed by fucking politicians now trying to cover their asses by pretending this occurred in a vacuum as if they had nothing to do with it! Barney Frank and Chris Dodd were the main players in getting it started, Janet Reno blackmailed banks threatening to bury them in criminal investigations unless they did as they were told. The first banks to try and foist off the bad loans were Fannie and Freddie where Barney Frank's lover helped craft how to turn their bad loans into good money by bundling and conning other banks into believing they were buying solid good mortgages. Those banks turned around and did the same thing after getting burned because Fannie and Freddie already showed them how to do it and since they are GSAs, why it must be legal, right? It wasn't people who bought these from banks - but other banks including international ones and eventually the music stopped and those left with no chairs were the ones burned. Banks did not design this scheme - our own government did.
And if Democrats can divert your attention from this fact while pretending their hands are clean because banks make easy targets for morons to take out their rage and claim they are "enemies of the state" , they already plan to do this AGAIN. They passed more regulations making it even EASIER to force banks to do it and engage in self-destructive behavior by making bad loans to people they know cannot pay it back. They made sure Fannie and Freddie are exempt from the further regulations imposed on banks while giving fucking politicians even more powers to force the rest of the banks into complying with their schemes and using Fannie and Freddie once again to get it going. These arrogant asshole leftwing extremist politicians are convinced that merely getting elected and pretending to be all ......noble-y and all........ means they know how to do everyone's job better than those who do it and think they can run entire industries better than anyone in it. These left wing extremist politicians are convinced their social engineering will work no matter how many times it causes catastrophe not just for the nation, but on a global basis now - and Obama is actively campaigning PROMISING to force banks to refinance all those bad loans they were forced to make to people they knew could never pay for them. Any clue who really gets hurt when government abuses its powers in this way? Everyone who plays by the rules. Everyone who makes their mortgage payments, everyone who pays their bills. YOUR house lost value and YOU aren't qualified for refinance BECAUSE you pay your bills. To this day those lying ass politicians will insist it is somehow doing poor people a favor to get them into taking out bank loans they can never pay back and totally destroying any credit they may have still had before they got that loan. I have absolutely NO pity for people who took out loans for houses they knew they could not pay for and NO bank put a gun to their head to do it. I truly do not give a flying fuck how many lose their houses. The house payments are NOT a surprise to them -they know before they sign how much they have to come up with every single month. And they did it anyway. Now the financial and housing crisis will not be over until it is cleansed of what our government did, the ridiculously high level of unsound loans are finally laid to rest and taken out of play. But instead leftwing extremist politicians are promising to do it all over again. Obama is campaigning on that promise -and apparently thinks I'm supposed to feel PITY for the people who took out those loans as if THEY had a gun put to their head by those big, bad banks. Oh gee, why aren't I a victim when I had to come up with a big down payment and then made sure I wasn't getting in over my head? But other people who not only never had to come up with a down payment which meant their money was NEVER at stake here anyway and was no secret their house payments were beyond their means -are somehow "victims" in this? No, the real victims are those of us who play by the rules, who had their own money at stake because they saved their money for years for a down payment which increased the likelihood they would make those mortgage payments since they would be highly unlikely to walk away from their equity by refusing to pay their mortgage -who saw a third of their equity just DISAPPEAR. Banks did not instigate this, it is behavior they would never have done had government not held a gun to THEIR HEADS in the first place. Can you blame them for then trying to minimize their own losses by doing exactly what the GSAs did indicating that was a legal practice? Banks don't want your fucking house -they aren't in the real estate business and houses lose value, houses get vandalized, the people who live in them may or may not have kept up on repairs or let it go to hell. Banks want the money people promise to pay back for those houses and because they want the money paid back, they try to avoid making bad and high risk loans to people they know can't pay it back.
But government put a gun to the banks and forced them to do it. And once calamity hit, turned around and LIE THROUGH THEIR TEETH insisting banks did this out of the blue and blamed them for trying to minimize their exposure in the identical way Fannie and Freddie did with the blessing of our government. They still have to answer to their own investors and they can't stay in business by bleeding billions in bad loans they know are bad loans up front when they were made.
They already know that NO laws were broken in any of this. NONE - and this isn't a country were you get to arrest people and insist what they did was a crime anyway just because you are pissed off. If the law doesn't exist making it a crime, you can't change the law and charge them with a crime after the fact. THIS country doesn't work that way but there are others that do. All leftwing totalitarian states. Trying to pervert the penal code for political purposes is always a left wing thing and it is always the left who believes the laws should be perverted, ignored, re-written retroactively in order to go after whoever they have declared to be the enemy of the state or if doing so will provide increased benefit to their own side.
If you think someone belongs in prison even though no laws were broken, start with Barney Frank, his former lover at Fannie Mae and Chris Dodd. The main players who got it all rolling and ignored 17 different pleas from President Bush to put an end to government demands banks engage in this behavior they would never have done otherwise and reform the entire practice before catastrophe hit. Franks and Dodd told him to go fuck himself and now hope the useful idiots of the left will continue insisting this all originated with "greedy" banks when in reality it originated with fucking politicians who abused their power to corrupt an entire industry in their arrogance and belief getting elected and sucking up taxpayer money at the public trough meant they were magically superior at it than those who made their livelihood doing it. If Franks, Dodd and Franks's former lover aren't facing jail time -then, given the fact no laws were ever broken - on what possible grounds should anyone else be facing jail time and before these three unethical and immoral assholes? And throw in that financial "whiz" Maxine Waters into the mix who should face jail first as well. The utter arrogance of these people knows no bounds -and in spite of Dodd and Franks resigning, they have more leftwing extremist politicians ready to step up to the plate for another round. After a while, you realize destroying the wealth of this nation IS their real goal because forcing banks into self-destructive and suicidal business practices like this -is not something those with the best interests of this nation would EVER do and believe there would be no consequences to pay for it that would only snowball and become magnified over time. Just as it did. This is actually nowhere close to the full story -it takes more than a few paragraphs on a discussion board.
RealClearPolitics - The True Story of the Financial Crisis
The True Story of the Financial Crisis by Peter Wallison, member of the Financial Crisis Inquiry Commission, a 10-member body appointed by Congress to investigate the causes of the financial crisis of 2008.
Whoever broke the law needs to go to jail. Of course, you allude to some undefined persons as 'banksters' and then fail to point out one single law that these 'people' broke. Want to try again?
When Bush handed Obama the country, he left it in shambles, that's a well-known world-known fact.
The bulk of the financial disaster was caused by the shady dealings and policies the banksters instituded on the American population.
How many of you want to see some of these banksters in cuffs and marched off to jail?
How many of you feel that crime was involved.
How many of you even want the AG to investigate and get to the bottom of it?
I'd like a real investigation that could lead to criminal charges that could lead to prison, not jail, for all that were and are involved.
I like to see justice served, but since many of the people involved were Fed level politicians and their handlers... don't hold your breath.
Yup. The banks can't do anything unless DC paves the way for em. The powers that be weren't very good oversite either.
The folks who should be going to jail are the folks who were supposed to be oversite.
They apparantly had more important things to do.
There certainly is enough blame to go around Joe. None of them are in any way innocent.
However IMO if those responsible for oversite had been doing their jobs, the jobs we pay them to do, then a lot of this would have been been caught and questioned.
If a restaurant made a salad taking good lettuce and mixing it in with e coli lettuce, they'd get in some trouble. The banks took good mortgages and mixed them in with e coli mortgages. They should get in some trouble.
When Bush handed Obama the country, he left it in shambles, that's a well-known world-known fact.
The bulk of the financial disaster was caused by the shady dealings and policies the banksters instituded on the American population.
How many of you want to see some of these banksters in cuffs and marched off to jail?
How many of you feel that crime was involved.
How many of you even want the AG to investigate and get to the bottom of it?
If a restaurant made a salad taking good lettuce and mixing it in with e coli lettuce, they'd get in some trouble. The banks took good mortgages and mixed them in with e coli mortgages. They should get in some trouble.
If a restaurant made a salad taking good lettuce and mixing it in with e coli lettuce, they'd get in some trouble. The banks took good mortgages and mixed them in with e coli mortgages. They should get in some trouble.
If a restaurant made a salad taking good lettuce and mixing it in with e coli lettuce, they'd get in some trouble. The banks took good mortgages and mixed them in with e coli mortgages. They should get in some trouble.
What if a government regulator was looking over the restauranteur's shoulder saying he had to put the ecoli lettuce in there or he'd be sued, who needs to be in trouble??
What if the government regulator was looking the other way as long as he got a "little extra" $, who needs to be in trouble.
Of course those things could never happen, right???
If a restaurant made a salad taking good lettuce and mixing it in with e coli lettuce, they'd get in some trouble. The banks took good mortgages and mixed them in with e coli mortgages. They should get in some trouble.
What if a government regulator was looking over the restauranteur's shoulder saying he had to put the ecoli lettuce in there or he'd be sued, who needs to be in trouble??
What if the government regulator was looking the other way as long as he got a "little extra" $, who needs to be in trouble.
Of course those things could never happen, right???
Banks were not REQUIRED to bundle good mortgages with bad.
If the regulator was paid to look the other way, both the payer and payee broke the law and should go to jail.
Millions of us already have.Better yet, join a credit union.
Take away their money.
What if a government regulator was looking over the restauranteur's shoulder saying he had to put the ecoli lettuce in there or he'd be sued, who needs to be in trouble??
What if the government regulator was looking the other way as long as he got a "little extra" $, who needs to be in trouble.
Of course those things could never happen, right???
Banks were not REQUIRED to bundle good mortgages with bad.
If the regulator was paid to look the other way, both the payer and payee broke the law and should go to jail.
Perhaps they weren't REQUIRED, but maybe it was "expected" to avoid a law suit. This was supposed to be regulated, the taxpayers paid someone to regulate it. They chose or were paid to look the other way. This is why we can't and shouldn't trust government regulations, they don't work.
Banks were not REQUIRED to bundle good mortgages with bad.
If the regulator was paid to look the other way, both the payer and payee broke the law and should go to jail.
Perhaps they weren't REQUIRED, but maybe it was "expected" to avoid a law suit. This was supposed to be regulated, the taxpayers paid someone to regulate it. They chose or were paid to look the other way. This is why we can't and shouldn't trust government regulations, they don't work.
What an utterly ridiculous argument. You're claiming (without actual proof of any kind...I'm surprised Conservative isn't calling you a bitch for not providing your links) that regulators were paid to look the other way and so that proves regulation doesn't work. We have dirty cops...do we just say "fuck it" and get rid of all cops? See where your argument goes?
Without regulations do you REALLY think things would have been better and we would have never experienced a collapse? Are you really naive enough to think that banks will "self regulate"?
Seriously and with a straight face?
