Re: Goldman Charged With Subprime Fraud

On 4/17/2010 10:25 PM, Wexford wrote:
> On Apr 17, 10:12 pm, Beam Me Up Scotty Everyth…@blackhole.NebulaX.com> wrote:
>> On 4/16/2010 7:05 PM, f…@twat.com wrote:
>>
>>> On Fri, 16 Apr 2010 17:44:11 -0400, Beam Me Up Scotty
>>> wrote:
>>
>>>> The government and Leftist-Progressives can’t kill the story of Subprime
>>>> loans and Freddie and Fannie Mae creating this mortgage mess so now they
>>>> are looking to blame it on anyone but themselves.
>>
>>> By “story” do you mean the concocted evasion and revision of
>>> Bush/Gingrich’s mess they made?
>>
>>> The “mortage mess” was a mess caused by deregulation, lack of
>>> oversight, no regulation, and no enforcement of existing laws.
>>
>> http://www.youtube.com/watch?v=_MGT_cSi7Rs
>>
>> You must hate when the Facts get in the way of a Leftist lying Story you
>> put together.
>
> No, we like the facts:
>
> The Subprime Mess and Phil Gramm: An Experiment in Deregulation
> Paul KieselAttorney
> (866) 735-1102 Ext 385Posted by Paul KieselJune 24, 2008 4:12 PM
> 9 CommentsPrint ArticleSubscribe
> In 1933, a few years following the stock market crash, Congress passes
> the Glass-Steagall Act, in hopes that regulating banks will help
> prevent market instability, particularly amongst Wall Street banks.
> The purpose of the act is to separate commercial banks that focus on
> consumers from investment banks, which deal with speculative trading
> and mergers.

Can you explain why Fannie and Freddie who weren’t AMONG WALL STREET
BANKS or under Glass-Steagall and they managed to need more of a rescue
than any other institutions in the world?

Fannie and Freddie are the epicenter of the FAILURE not the banks. Yes
the Banks were caught up in the Government created crash. Thank you
Barnie Frank and Chris Dodd.