Capital New York

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

Has Bloomberg been living on Mars? The banks rigged the game, and then gamed the financial system essentially to commit theft. Who sold the securities that raised the funds that resulted in the collapse of credit? Not Congress. Who peddled the "no job, no income, no nothing" loans to individuals who wanted to buy a house? The mortgage brokers and banks, not Congress. Who devised the "innovative products" that led to the collapse of the markets? The Harvard MBAs working for the banks. And who hired the lobbyists who went to Congress, the Federal Reserve, and the Fannies to get the regulations changed or adopted so that they could carry out their schemes? I think it was the banks and the other financial institutions. It's almost as though Bloomberg has switched brains with Glen Beck. Where has he been? Somebody give him a newspaper.

Posted on November 2nd, 2011 9:56am