tag:blogger.com,1999:blog-24005214.post905349792399364109..comments2023-10-19T12:25:15.143+01:00Comments on The Osterley Times: Elizabeth Warren: "We Rescued at the Top, and Sort of Left the Bottom to Fend for Itself"Kelhttp://www.blogger.com/profile/14466059072530968330noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-24005214.post-69316758377130779992009-12-07T08:08:39.878+00:002009-12-07T08:08:39.878+00:00About all you can really blame bankers for in all ...<i>About all you can really blame bankers for in all of this is bundling risky loans and selling them to investors in a last ditch attempt to stay afloat with all their bad debt, which I suppose s what irritated those of you across the pond, since that's where you came in, as buyers.</i><br /><br />That is what irritated us, and I don't speak as a buyer, I speak as someone who watched them almost bring down the entire worlds banking system due to their insatiable greed.<br /><br />And what further annoys me is that they are still selling off these packages rather than accepting the risks and properly vetting the people to whom they are making these loans.<br /><br />The financial calamity which would have ensued made the bailout inevitable. As I said at the time, I didn't want to give billions to bankers, but it was prefereable to the alternative. However, I did expect the government, having given the bailout, to make a repeat of such behaviour impossible. I am very dissappointed that they appear to be doing nothing to control the bankers worst excesses.Kelhttps://www.blogger.com/profile/14466059072530968330noreply@blogger.comtag:blogger.com,1999:blog-24005214.post-58481456044239684482009-12-06T16:41:00.207+00:002009-12-06T16:41:00.207+00:00Banking was optional, the bailout wasn't.
It ...Banking was optional, the bailout wasn't.<br /><br />It wasn't the bankers who wanted to make high risk loans to people who couldn't afford it, for that look to Jimmy Carter's Community Reinvestment Act, to Reagan's Alternative Mortgage Transactions Parity Act, and Clinton's demand that HUD keep 50% of their portfolio in low income loans.<br /><br />The big bailouts went to government sponsored entities, which held only a hundred million in total assets to back up five trillion in loans.<br /><br />About all you can really blame bankers for in all of this is bundling risky loans and selling them to investors in a last ditch attempt to stay afloat with all their bad debt, which I suppose s what irritated those of you across the pond, since that's where you came in, as buyers.Steel Phoenixhttp://www.theallegator.com/noreply@blogger.comtag:blogger.com,1999:blog-24005214.post-36502240349443599352009-12-05T23:07:02.436+00:002009-12-05T23:07:02.436+00:00This is what you get when you let politicians deci...<i>This is what you get when you let politicians decide how to spend your money.</i><br /><br />I'm not sure the politicians a were the villains here, SP, the bankers own that role. Or rather, the politicians should never have allowed the banks to gamble our money in the way that they did through excessive deregulation. <br /><br />Nunya, I also think her perspective would do well to be emulated.Kelhttps://www.blogger.com/profile/14466059072530968330noreply@blogger.comtag:blogger.com,1999:blog-24005214.post-5751273858585995782009-12-05T22:30:06.104+00:002009-12-05T22:30:06.104+00:00Ahhh, if only the Am Govt had more people in it li...Ahhh, if only the Am Govt had more people in it like Ms. Warren. *sigh*nunyahttps://www.blogger.com/profile/08833886980442919570noreply@blogger.comtag:blogger.com,1999:blog-24005214.post-69113853164809758752009-12-05T18:29:22.524+00:002009-12-05T18:29:22.524+00:00It was worse than that. We taxed the poor to bail ...It was worse than that. We taxed the poor to bail out big banks so they could lend us our money back at interest.<br /><br />This s what you get when you let politicians decide how to spend your money.Steel Phoenixhttp://www.theallegator.com/noreply@blogger.com