It reported, and didn't really add anything to what we didn't already know.
Six Democrats and four Republicans did interviews and investigation, and probably could have read Sorkin's book TOO BIG TO FAIL and derived the same information. They also could have read Simon Johnson and James Kwak's book 13 BANKERS. Both of those shed a good bit of light on the situation.
The majority report is 545 pages, and from the reviews I have read, most of it just repeats the same things found in the above books, although I doubt it makes the allegations made in 13 BANKERS. That would not have been politically correct. I don't think I will bother, but it is available on Amazon in paperback for under ten bucks.
What it boils down to is that a partisan majority blames the banks, a partisan minority (of one) blames the government, and the rest of the Republicans blame everything and everybody.
So much for that waste of time. The government at least appears to have "done something" when, in fact, it has done nothing but perpetuate the problems at the expense of the taxpayers.
And all the politicians wonder why the Tea Parties are gaining influence.
1 comment:
I know several "bankers" who I trust. By several I mean 1 or 2.Bankers are a peculiar breed. I only trust the ones who won't loan me money. They're the smart ones. When one says "come on down" the hair stands up on the back of my neck. Maybe they know something I don't. Ford Motor Credit,Wells Fargo,Bank of America,and Citibank, are all on my watch list.
The financial crisis has hit me only because of my age and after paying off a bankruptcy.
Why is it that after you pay off a debt.either everyone or no one wants to loan you any money.
To those I still owe,please see Barack Obama.------Goose
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