Duude

Irate Icahn - Fast Money Recap (9/19/08)

I find it interesting that Corporate executives are so roundly, and deservedly criticized while politicians who arguably are most at blame for creating an environment where the GSEs have no oversight at all. We've had more than one reform bill before Congressional committees which were blocked by those who received over $180 million in lobbying over the last decade. Check the record.
If the GSEs had a due diligence plan they wouldn't have provided a dumping ground for trash, and its quite likely we wouldn't have seen it come out of the mortgage companies in the first place. The investment banks are also guilty of no due diligence and instead depending upon the rubber stamp AAA ratings the ratings agencies applied to everything.