Capital New York

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

Yes, Congress made all of those loosely regulated investment banks securitize all of those private label junk loans with mind control. They also made them borrow billions to buy these mortgages and in some cases hold MBS paper themselves and put it up as collateral to borrow billions more so that when MBS went down in value Bear Stearns, Lehman Brothers, and Merril Lynch became insolvent. Congress also made AIG swap contracts that paid off if any of the above went bankrupt or if any CDO counterparty defaulted. Congress used X-band radio waves to control the bankers (who all made tons of money for themselves, but pay no attention to that because it is a distraction). It is important that investment bankers wear foil hats to prevent this happening again.

Posted on November 1st, 2011 9:31pm

G commented on Ed Koch: 'I love Wall Street', but some C.E.O. should go to jail

Umm yeah, but the kid stealing the bike can't hire attourneys and lobbyists, and that's the kind of system we finally have: Libertine.

Posted on November 1st, 2011 2:06pm