tag:blogger.com,1999:blog-2359657762730149804.post8294805397628060736..comments2024-03-27T19:30:26.525-07:00Comments on The Vulgar Curmudgeon: Never Forget, Your Betters Have Told You That Corporations Are People TooPhilhttp://www.blogger.com/profile/15695733883033137146noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2359657762730149804.post-75772569310628493802014-06-20T16:47:33.948-07:002014-06-20T16:47:33.948-07:00I'm more ambivalent about this. Does the fina...I'm more ambivalent about this. Does the financial industry, particularly the private investment banks, deserve some blame for the 2008-2009 meltdown of the housing market? Sure. Was it criminal? Not likely. At least no more criminal than what the government did through Fannie Mae and Freddie Mac, and strong armed the home mortgage industry into lending to a swath of citizens who never should have been given the credit to get into those houses in the first place.<br /><br />Take BOA, for example. Their major crime was being threatened by the FedGov into buying Merrill Lynch when FedGov was worried that ML was going to capsize the listing ship of the economy, and most particularly the mortgage backed derivatives market.<br /><br />In my mind, the major criminals aren't major ... they are the suckers who believed the BS and hype from the mortgage originators and lied on their mortgage applications and bought into the ridiculous myth that real estate only went up. They actually believed the honey coated turds of wisdom from our elected officials who pushed the idea of home ownership onto those least likely to be able to assume the risk of home ownership.ruralcounselhttps://www.blogger.com/profile/09193188081686431709noreply@blogger.comtag:blogger.com,1999:blog-2359657762730149804.post-12623642116398756292014-06-20T07:15:09.871-07:002014-06-20T07:15:09.871-07:00What they should be worried about is being hung fr...What they should be worried about is being hung from lamp posts by their guts. Sixbearshttps://www.blogger.com/profile/15572224383041421400noreply@blogger.comtag:blogger.com,1999:blog-2359657762730149804.post-25144570087130660552014-06-20T06:27:43.578-07:002014-06-20T06:27:43.578-07:00There is no honor among thieves. The Cartels, the ...There is no honor among thieves. The Cartels, the bankers, the "lawmakers", their lawyers, and their judicial branch allies have all made tons of money through their little system. It really puts things into perspective doesn't it? The most corrupt thieves and crooks wear suits and ties, while they provide Oscar worthy performances. Stackz O Magzhttps://www.blogger.com/profile/02035201539129178043noreply@blogger.com