Guilt or maybe fear of what he knew was coming ... who knows what sort of flimflammery will be uncovered in the ensuing investigation. I put a lot of the blame on the Bush administration. I've been saying for some time that it will come to be known in history as the greatest ripoff of the American people that has ever been perpetrated. It was Bush -- or rather the people who were pulling his strings -- who deregulated most of the financial markets and turned loose the dogs of greed. He instructed the SEC, FCC and other agencies to let loose their controls, even to the point of one of his last acts -- gutting the uptick rule on short selling. That was turning on the afterburners in a ten year old market bubble that everyone knew would soon burst but in the meantime most were getting theirs while the getting was good. All these hundreds of billions and trillions of worthless liabilities on banks and investment house balance sheets indicate the degree of wealth that walked away with its pockets full from a bankrupt economy.
I was reading the other day that Bush was no longer in Crawford, Texas, on his ranch. I was surprised he even spent a couple of months there -- probably was advised to play a low profile for a while -- but he has now moved into a million dollar high-rise apartment in the heart of Houston, surrounded by a large number of the people he made wealthy beyond their wildest dreams. Regardless that damage it would do to our national image, I'd really like to see the SOB put on the hot-seat for his shenanigans. Him and his motley crew. On Apr 22, 2:08 pm, Don Johnson <[email protected]> wrote: > Very interesting article. Thank you for posting it. What he didn't > mention(or was possibly omitted in this abridged version) would have > been the fear that financial editors might bring on the crash by > reporting on it's possibility. The old 'self-fulfilling prophesy' > angle. In my memory, what really woke me up to how much trouble we > were all in was the failure of Lehman Bros. and the Fed's response. > Huge, huge sums to prop up AIG, Bear Sterns and others. This was > supposed to calm the markets and reduce fear and prevent a run on > selling but seemed almost to have the opposite effect because the > general public learned just how bad things were. "The party is over" > is the phrase burned into my mind. The guy that said that was right. > > Of course, it was hard for journalists > to attack the ideal of broader home ownership in America, but that is > no excuse. > > Indeed, it is not. I see this as the biggest problem of the MSM. A > huge soft heart for liberal causes. "Keeping people in their homes" > should have nothing to do with banking. Banking should be a private > enterprise without implied government support. > > In my mind the biggest failure is with the Fed. Reserve and the SEC. > There were plenty of letters to the SEC warning of problems and they > choose to do little. Perhaps for fear of bringing on the crash. > > The acting CFO for Freddie Mac was found dead this morning in his home > from apparent suicide. It makes me sad to hear of it. Guilt, if that > is what made him do it, is a terrible burden he should have realized > he shared with many-not just his company or the media but this country > which has borrowed and spent far too much in recent history. My heart > goes out to his family. From what I've read about him, he seemed like > a really good man. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""Minds Eye"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/Minds-Eye?hl=en -~----------~----~----~----~------~----~------~--~---
