Capital New York

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

Touche, Courtland, touche. Saw the clip and, while the Fox report doesn't negate the fact that Bush pushed for home loans to the credit-less even a year after his White House saw problems there, Barney Frank's naive or worse comments about F&F are irksome indeed. Dems, Republicans — anyone who takes money from lobbyists and then votes in their favor — are all crooks and scoundrels. What, deep down, is the real reason that McCain and the Republican crowd only seem to favor "regulatory structure" for F&F, and not everything? Sorry for the partisan sound there — just curious (and tired of right or left as our only, divided choice . . . it's just all part of the distraction that allows those greedy CEOs to steal the candy while everyone else is arguing).

Posted on November 3rd, 2011 5:25pm

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

Um, Smartening Up, who writes above "BUSH attempted to try to put restraints on it," needs to smarten up by watching this clip of Bush telling the world that thanks to his approval, low-income folks can have a house as nice as anyone: http://www.youtube.com/watch?v=GkAtUq0OJ68

Posted on November 3rd, 2011 12:15am

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

Lame excuses and finger pointing. Again. President Bush, not "Government," is the one whom we can see in video clips push for home loans for everyone. Banks and their affiliates, not government or the people, who finessed "Zero-down" loans and didn't explain the fine, misleading and in fact very tricky print. Banks, not government or the people, are the ones who engage in mobster-style lending tactics when it comes to just credit cards alone (30 percent rates for people with fairly good and timely payment histories, anyone?). Banks, not government or the people, are the ones who were pushed their lobbyists to gain tax loophole advantages, who enjoy socialism-style subsidies and who get to pick up their mail in the Cayman Islands. Banks, not government or the people, arrange for their CEOs to get literally hundreds of millions of dollars in bonuses and golden parachutes after they either do a poor job and are forced out — or accept bailouts paid for by the people. If the banks were so very, very concerned about the potential paltriness of their own savings and future (LIKE the people), why on earth would they spend so much of their hard-earned money on lobbyists, super-pacs, bonuses, parachutes, corporate jets and corporate (not product-specific) advertising? Answer is: they have plenty of money, and if they didn't over-leverage and let their greed and egos and total out-of-touchness go wild — if they'd just chill on the fear of not having a big enough place in the Hamptons — we'd all be happier. Shhh-shhh — it's okay, let 'em reinstate the Glass-Steagall act. Get honest with yourself, work on your deep-down unhappiness and never-satisfied hunger to feel important. Blaming Fannie and Freddie — an actually tiny part of the problem — is just another example of Wall Street's determined ignorance, wishful thinking, lack of integrity and passing of the buck. Find some soul.

Posted on November 2nd, 2011 3:51pm