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  1. 01-28-2011, 19:28 #1
    Strike For The South
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    Default Financial Crisis Was Avoidable, Inquiry Finds

    http://www.nytimes.com/2011/01/26/bu...EEw9UeeKke+GVQ

    The commission that investigated the crisis casts a wide net of blame, faulting two administrations, the Federal Reserve and other regulators for permitting a calamitous concoction: shoddy mortgage lending, the excessive packaging and sale of loans to investors and risky bets on securities backed by the loans.
    But why enforce laws when someone is making profit. Profit can only help us!

    Granted Fannie and Freddie stupidly bought these same securites to help spur the bubble when it was showing signs of faltering but I guess we can't hope for our government to regulate only to be corporate Americas lap dog
    Last edited by Strike For The South; 01-28-2011 at 19:39.
    There, but for the grace of God, goes John Bradford

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