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Re: [Spridgets] The Conservative Mind, No LBC

To: "Jay Fishbein"
Subject: Re: [Spridgets] The Conservative Mind, No LBC
From: an5.sprite@gmail.com
Date: Wed, 1 Jun 2011 01:58:24 +0000
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@snet.net>
Sender: spridgets-bounces@autox.team.netDate: Tue, 31 May 2011 21:35:57 
To: Spridget List<spridgets@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@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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