Financial Crisis Report Spreads Blame Far and Wide for Meltdown

And you forgot to mention that all these agencies were under the Bush Administration and every thing happened under his watch before Obama ever became President. And I didn't hear any mention of the 2 wars and the Bush Tax cuts. Also, although the economy is starting to come back, the long term effects of the housing bubble and the unemployment are still being felt to this day and will take even longer to get back to what it was. Bush really did a number on us!

The FOX detractors never give their sources for news! They just challenge the intellect of FOX viewers!
Would be nice to know where they get their info!!
NBC nightly= on QE2, they thrilled that the stock market was up! NO MENTION of the effect that QE2 would have on commidity prices=food,fuel etc. But they had time for "Making a Difference"!
NBC Nightly =on the meltdown report= Picture of Angelides, Failed to mention BIG time DEM from CA.,one time StateTreasurer! Mentioned that there was a minority report! BUT had time for " Making a Difference"!

Read the minority report,and how Fannie was carrying Sub-Prime loans as regular loans on their books! So the majority report says =Cra and sub-prime were not the main problem!!
If Fannie is carrying Sub-Prime loans as regular loans and the majority report does not mention this,How can the know the true cause and effect of the CRA and the Sub-Prime loans?
Did noit see mention of the Andrew Cuomo,Clinton HUD secretary or Franklin Raines the book cooker at Fannie! Cuomo had filed and threatened lawsuits against lenders that DID NOT LEND TO WHO THE ADMINSTRATION thought they should lend to! He can be found stating that the policy of lending to the previously NON-QUALIFIED,would lead to losses, But it would be worth it!

Obama added to the melt down with his stimulus plan and creating economic insecurity. He should have been working on our economy for our unemployed. NO, he spent all that time running all over the country and world on air force1 making speeches and campaigning.

The Republicans always wamted to get of regulation, They feel regulations hamper the prosuit of making money, regardless if the regulations were intended to protect them from their own folly. This crap about cutting government spending is nothing but a lot of bull. They better wake up to the fact the Republican era is now coming to an end.

The problem is that both Parties are in a constant battle to win over the "swing" votes which are usually held by the entitlement class. These people have to be rewared for their vote by such things as giving them assistance to buy homes that they cannot afford. All you have to do is to realize that when the entitlement class holds the key to our elections this country is in serious trouble.

A repost to correct an error.

We had warnings in the 1980’s and 1990’s. Two events in particular: 1. The savings and loan scandal at link http://en.wikipedia.org/wiki/Savings_and_loan_crisis and 2. The Whitewater scandal at link http://en.wikipedia.org/wiki/Whitewater_controversy Laws were supposed to be in place to prevent these. Once again I ask the question: Who is going to write me a check for the $500,000 (of real, good faith money) that I lost or that evaporated due to no fault of my own?

We had warnings in the 1980’s and 1990’s. Two events in particular: 1. The savings and loan scandal at link http://en.wikipedia.org/wiki/Savings_and_loan_crisis and 2. The Whitewater scandal at link http://en.wikipedia.org/wiki/Savings_and_loan_crisis Laws were supposed to be in place to prevent these. Once again I ask the question: Who is going to write me a check for the $500,000 (of real, good faith money) that I loss or that evaporated due to no fault of my own?

If you really want to find out when the financial crisis could have been avoided google "Brooksley Born". She was a Clinton appointee who tried to bring to light the problems with derivatives in 1996 and 1998 (when the U.S. came within 2-3 days of having the financial crisis then. She was re-buffed by the Repub congressional hearing commitees and Greenspan and Summers. In 1998 the Fed dumped in $250 bil. The result of hearings were "move along folks, there's nothing here". BOTH parties have screwed us. I think we need a large gallows erected in D.C.

I blame the financial crisis on the federal government's failure to control the size of US corporations. The crisis wasn't caused by the small and medium size financial companys, but by the gigantic financial companys. The giant companys knew the government couldn't afford to let them fail, because they are too big, so they took unreasonable risks knowing that if things went well they would profit and if things went badly, the government would be forced to bail them out to avoid a total collapse of the economy. Giant companys don't have enough competition to make them operate efficiently and their executive compensation gets out of control. I also blame companys that are too big for the cost of health care growing faster than the cost of living.