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F.O.A.D.

On 8/12/13 8:51 PM, wrote:
On Mon, 12 Aug 2013 18:22:20 -0400, "F.O.A.D." wrote:

On 8/12/13 6:09 PM, Mr. Luddite wrote:

"F.O.A.D." wrote in message
m...

Virtually all the banksters who caused the economic recession of the
Bush Administration were not prosecuted or imprisoned for anything.

------------------------------

The "banksters" didn't cause the recession. I think it would be more
accurate to call it the "Barney Frank & Co." recession.

Oh? Was Frank the one knowingly lending hundreds of billions of dollars
against worthless financial instruments, or engaging in predatory
lending? Was Frank responsible for the irresponsible and greedy
banksters putting themselves ahead of their responsibilities to their
shareholders, who, sadly, are too numerous and scattered to exert much
control.

There's no legal sting for the banksters. They'll do what they did
before, finding new loopholes to line their personal pockets.

Frank/Dodd did loosen up lending requirements. Clinton encouraged and
signed BOTH pieces of legislation that "unchained" Wall Street.
Nobody was complaining when the bubble was inflating and their house
tripled in value. Unemployment in the construction industry was 0.5%
Nobody complained about that either.
It was sort of like the Dot Com bubble a half decade before.
Nobody complained about that either ... until the crash.

The Wall Street banksters did everything they could to line their
pockets at the expense of virtually everyone else. True American patriots.

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