Simply Politics & News

[makesumgravy]

How much more obvious can it be?........
http://finance.yahoo.com/news/Senate-probe-says-credit-apf-2181252849.html?x=0&sec=topStories&pos=1&asset=&ccode=

First we have the people at the center of all this who were able to create these CDO's, and the only ones who understood them. We then have the Investments banks, HedgeFunds like Goldman Sachs who made the credit agencies Fitch, Moody's, Standard&Poor, offers they could not refuse if they would sell their souls, their triple A "ratings", so these bad instruments could be sold. Kinda like the Realtors who wanted to sell homes that were dangerous or faulty, but whose building inspectors were paid off, and the mortgage lenders were in on it. These very same agencies had to be given the signal when to pull the trigger to downgrade what wasn't suppose to fail to fail. Then the likes of people like Paulson, Goldman, Wall Street insiders, and other hedgefunds could rake in billions.

A very good point was made by Elliot Spitzer. He said, "ask the question", "what is it that Goldman does other than to create these kind of risky derivatives?, what does that firm do for us?.

What vital role does that firm play to deserve tens of billions of taxpayers dollars?, while making billions for themselves.

In my view nothing!. Its egg on our elected officials faces. Its a disgrace. Aig is no better. Many of these peoples heads that were involved with these scams should have their day with the chopping block.

Paulson, Cox pulled off the biggest bank heist in the history of the world............and the Senate Banking Committee gave them the keys to the printing presses, and the vault. With their blessings. Bernake with Paulson sucked them into believing that the world as we know it would end for all eternity. If anything it lit up whats been going on in this country, and these corporations for everyone to see.............China is eating Americas lunch............remember the WTO, and GATT, all 22,000 pages of it?..........wheres the jobs now?. Only one Senator read that bill from what I remember.......he opposed it!