Richard Macaulay posted
>Talk about conspiracy theories. We are watching the >largest bank
robbery in history and nobody believes it is >contrived.
Michael Savage of the Savage Nation was going on about how the Powers
That Be fired Eliot Spitzer because of his agressive attacks on
preditory lending. I have learned never to assume conspiracy when greed
and stupidity can explain the phenomena. IMHO, they thought that the
value of American residential real estate would continue to hold it's
value. Too bad it's value is based on the occupant's cashflow, while
some people have the requisite cashflow, an increasing number don't.
IMHO, the phenomena can be explained by a short sighted focus on keeping
the economy growing, cashflow, cashflow, and cashflow.
The Savage posted this link, The author's other writings reveal him to
be a leftist, so I'm wondering how much truth it contains.
http://www.gregpalast.com/elliot-spitzer-gets-nailed/
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