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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: arno who wrote (271951)	10/2/2008 3:16:56 PM
From: KLP	Read Replies (3) \| Respond to of 795208

There are several points. If a public company (i.e. WaMu, or Bear Stearns, for instance) sells shares of stock to investors, and has not been truthful about the actual money backing their loans, that is illegal. And fraud. Another point is finding the cause of the problem. Fannie Mae, Freddy Mac, Congress with no oversight, or ignoring oversight, Congress for making it illegal NOT to give loans to people who couldn't pay for them....Banks for allowing the loans to those same people, and the people themselves...who had no way to pay for the loans, and thought it was a giveaway.