Capital New York

citizenshame commented on Bloomberg: 'Plain and simple,' Congress caused the mortgage crisis, not the banks

@ kebbe: The good old days of the S&L's???? You've got to be kidding. In case you were unaware, there was this little thing the 1980's called the S&L Crisis crisis which cost taxpayers hundreds of billions of dollars while lining the pockets of executives, investors and developers. This huge industry-wide fraud followed de-regulation of the industry by Congress in response to lobbying by the S&L's. The only thing to wax nostalgic about the S&L crisis was that back in the 1980's we still prosecuted and sent at least a few of these people to jail. In sharp contrast, we now see the tipping point of corruption of our system, putting partisan politics above the good of our country and pretending that it didn't happen by making stuff up like Bloomberg, Limbaugh and the GOP propaganda machine have done, pimping the Republican party out to Wall Street and selling out the 99% of American citizens and especially the middle class along the way. How much does it cost to avoid prison? Evidently, somewhat less than the recent record-breaking political contributions of Wall Street and the banks.

Posted on November 2nd, 2011 10:16am