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 at snet.net>
To: Spridget List<spridgets at 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 at 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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