The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: stockman_scott who wrote (190060)	3/11/2009 8:18:27 PM
From: energyplay	Read Replies (2) of 306849

The bad thing about focusing on Madoff - it obscures the bad and dangerous parts of our financial and political system. It is sort of the "bad men" theory of history. Even if we take all the crooks out of the system, we still have stupid and excessively risky behavior We should not forget the many other factors - The bipartisan support to eliminate all regulation of credit default swaps. Hank Paulson of Goldman Sachs and others lobbying the SEC to allow large banks to leverage up more than 12:1. Fannie and Freddie running wild. Even Alan Greenspan spoke about this 10 years ago. Gutting of the Glass-Steagal act. There is more than enough blame for both parties twice over. There were a few good players, Ron Paul, Dennis Kucinich, etc. I don't think people should escape the blame just because Bernie's in jail.

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