On Oct 10, 2:51*pm, Dave wrote:
On Fri, 10 Oct 2008 09:48:58 -0700 (PDT), said:

How did "pressuring lenders to make loans to those unfit to pay them"
force Wall St corporate banks to extend their leverage on CDOs and
similar vehicles of unassessed risk?

Umm...I don't think he said it did.

Oh, did I miss something?
I thought *you* said the CRA was the cause... along with a lot of
other people saying it, to be fair.
But I don't hold it against you personally, Dave, it's the latest
verse of the right-right-wingers favorite song "blame-the-poor." You
just can't help singing along.

.... It simply created one of the key
ingredients for development of the perfect storm. Unquestionably excess
leverage on the part of investment banks also contributed. As did the
consolidation of both commercial banks and investment banking houses that's
been occurring for at least the last 40 years.

Yep again.

Dang, we should be in congress straightening this mess out.

My recommendation is to bring back public flogging. Put those AIG and
Bear-Stearns execs in the stocks and make an example of them. Maybe
some of the others, who deserve less harsh punishment, can just wear a
big red dollar sign on their shirts.

DSK