Zandi

Obama's 'Bad Bank' Plan Is a Turning Point

Nobody is talking about the leveraging of these toxic loans. They are leveraged up to 30 times their value and do we tax payers pay for that too while the fat cats get fatter off of this deal. I hope there is a Banking Commission that exposes all of these crooks running these banks. And I am getting in the mood to go to credit unions for ever after this screwing of the common tax payer.

Sheila Bair - World's Worst Regulator - to Stay at FDIC

Wow, if Sheila Bair (the least guilty in the Bush Administration) should not be kept on for poor regulation, then imagine what the whole Bush administration should be charged with. Rich dudes like this author are classic proponents of the problem with the ultra-conservative ideology; that is "They want the banks and rest of the free-market system to be able to prey on the little guy like parasites. But under this administration, the parasites were allowed to do such a good job feeding on the poor that they killed both the parasites and the host. Why should we feel more compassion for the parasites that have to take some losses because of loan modifications than we do for the little guy that was preyed upon. The banks, bond-holders and hedge-fund managers all knew they were taking chances during the "irrational exuberance" period of the housing boom. The bigger the fool the harder they fall! So are the parasites, er...I mean investors, big boys and girls who played a grown-up game and lost or are they big cry babies like the author?