Those watching the Financial Crisis Inquiry Commission on June 30th saw an effort to place all blame on oversight, sub prime. What their witnesses told, there was a run on the bank, Nevada's Gaming (or New Jersey) would have done a better job.
Some want us to believe derivatives were bought and sold in a perfect market. I chose, Washington Full Throttle Economic Rescue as a reminder, people involved were not sitting around, puffing on their pipes -things were going very wrong.
In September 2008 -fixed- mortgages, prime mortgages, and sub prime mortgages were going bad. Sorry, Unemployment was a real issue in 2008. How many people believe, all unemployed live in rental housing or paid off homes, few, if any.
This Commission's work has been exceptional. All theories of causes need a fair airing. Pursing a point can help see a cause that most would miss. From the Commission's past work, that may have been all they were doing.
by J John Swanko
People Port's Ethical Conduct Statement
For advertising opportunities or Comments: PeoplePort@gmail.com Copyrighted, 2010, J John Swanko, All rights reserved. This work is licensed under a Creative Commons Attribution 3.0 United States License. Yes, you may use this, Please cite People-Port.com
No comments:
Post a Comment