[Spridgets] The Conservative Mind, No LBC

[an5.sprite at gmail.com]

If by accountable you are referring to the recent economic downturn then holding banks and wall street accountable only hit on 2 of the groups that are at fault.

The fault lies with:

1) Homeowners that lied on their application or bought houses they could not afford because they thought house prices only go up.

2) The mortgage brokers that "helped" some applicants  improve the "look" of the mortgage application

3) The politicians that thought everyone should own a home regardless of their economic reality and started the CRA to make sure it happened

4) The regulators that pushed the banks to make bad loans because of CRA and ignored the bubble

5) Fannie Mae (technically someplace between a government agency and private company) that worked hard to expand home ownership.

6) Banks - already been said

7) Rating agencies that rated securities way higher than logical. They get a double wammy since they are supposed to be an important gate keeper.

8) Wall street

Steve
Sent from me.

-----Original Message-----
From: Jay Fishbein <jfishbein at snet.net>
Sender: spridgets-bounces at autox.team.netDate: Tue, 31 May 2011 21:35:57 
To: Spridget List<spridgets at autox.team.net>
Subject: Re: [Spridgets] The Conservative Mind, No LBC

The inference was that Wall Street and the big banks should be held
accountable.

Jay
-An iPhone communication-

On May 31, 2011, at 9:28 PM, an5.sprite at gmail.com wrote:

> If you want to get rid of the bankers and wall street you must hate
capitalism and therefore you are likely a communist!!
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