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Politics : American Presidential Politics and foreign affairs
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To: RMF who wrote (30566)12/21/2008 6:16:28 PM
From: Peter Dierks  Read Replies (1) of 71588
 
So lack of government oversight of a morally bankrupt system that failed to the tune of over a trillion dollars of new government debt had nothing to do with the problem?

If reasonable accounting standards in businesses with and without (previously only) implied government liability would have had not effect on the problem? You may never have complained about Enron or Global Crossing, LEhman Brothers, or any of the other scandalously bad accounting frauds, but most on your side have been selecting in their criticism.

According to your logic, Madoff was just a casualty of derivatives. Lack of regulation had nothing to do with it.

Oops you contradicted your own logic in the same post:
"Why do you think AIG seems to be a "blackhole" that the FED needs to keep pumping money into? "

Because it failed in a major way, and the way it was taken over caused additional liabilities.

You guys get so hooked up on the Fannie and Freddie thing that you miss EVERYTHING else. They've given you Fannie and Freddie as ONE tree so you won't bother to look at the WHOLE forest.

You lefties are so hung up on clawing back executive pay unless it was a crook like Obama's buddy (now just a guy in the neighborhood) Franklin Raines, or the woman who may bear responsibility more than anyone except Clinton for 911, Jaime Gorelick. How many lefties have called for the fraudulent payouts ot Fannie and Freddie executives to be returned?

There is a huge difference, executives of independent publicly traded companies had to get approval of stockholders who willingly granted them the pay and are responsible for the costs while the democrats Fannie and Freddie stole directly from the treasury.
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