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Politics : President Barack Obama
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To: sylvester80 who wrote (34159)9/22/2008 11:28:01 AM
From: tejek  Read Replies (2) of 149317
 
A lot of the sellers committed fraud as the article I posted states. Why can't they take them for all the ill gotten gains they took from them?

A lot? The article points to one. There was fraud but its not quite as obvious as this one case. Most of it was sellers flipping properties, lying on applications and lenders looking the other way; going along with it by lowering credit standards and/or fudging appraisals. These shoddy standards permeated whole industries and became the norm. As the decade progressed, corporate misbehavior increased under the indifferent eye of an laissez-faire gov't. Banks can try to collect monies where the fraud is blatant but how do you do that when you were complicit in that fraud?

The Bush administration is directly linked to this mess by not doing what gov't is intended to do....regulate. So then, the Bush administration is the gift that keeps on giving, and we, the people, have to deal with it because we are culpable, having voted him into office twice.
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