25 People to Blame for the Financial Crisis

[Nbadan]

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The TOP 3 Wanted! for Crimes against the Nation

25 People to Blame for the Financial Crisis (http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350,00.html)

I thought the list was mostly right on.....Phil Gramm should have been #1 and Angleo Mozilo #2, and Dubya deserves more blame than Clinton but....

[smeagol]

Stupid list.

Bernie Madoff? That guy royally fucked a lot of people but he had nothing to do with the subprime crisis (and its consequences).

Might as well include your frinds Castro and Chavez . . .

[baseline bum]

Phil Gramm should be hung from his balls off the side of NYSE.

[braeden0613]

Bernacke really needs to be on this list..

[boutons_]

I read an article that said the over-arching criminal was Greenspan, with his super low interest rates, trying reduce the recession after the Internet/stock bubble popped in 2000, staying low for too long and enflaming the mortgage boom.

Greenspan also was also anti-regulation going back to the beginning of his Fed term.

At least he admitted how wrong he had been. Send all the motherfuckers to jail and make them disgorge their salaries.

The elite always get away with financial crimes.

I relish UBS and other banks being forced to divulge the names of 10s of 1000s wealthy US citizens who parked $Bs in their overseas banks to evade US taxes.

If the lower 95% make a mistake on their IRS form, they get fucked with penalties, interests, and IRS audits for years.

[Winehole23]

Greenspan says he did not believe financial institutions would be so cavalier with their investors' nut. That it was in their rational best interest to police themselves.

Greenspan was also a true believing gold bug once upon a time.

Now he represents the refutation of (his version of) monetarism. Artificially low rates created dangerous asset bubbles and massive malinvestment. Borrowing was made too attractive, everybody got leveraged out to the max, and even uncreditworthy people were encouraged to participate in the general orgy of debt.

The attempt to moderate the market's downside effects from 2001 on turned out to be more destabilizing probably than the shocks Fed monetary policy sought to cushion in the first place. Apparently, letting the free market find its own level wasn't an option.

[smeagol]

Yes, the crisis can be pinned on 25 - 30 people. The general public had nothing to do with it.

You guys are fucking morons . . .

[Rogue]

George :bang

[Bartleby]

Yes, the crisis can be pinned on 25 - 30 people. The general public had nothing to do with it.

You guys are fucking morons . . .

#16 - The American Consumer

[FuzzyLumpkins]

Yes, the crisis can be pinned on 25 - 30 people. The general public had nothing to do with it.

You guys are fucking morons . . .

If you're talking about the general populace then you would be correct in the assessment. Despite general education in the US which btw is still better than your country's, the best that most Americans can be termed is intellectually lazy.

The rank and file, myself included, had no idea what Gramm and CLinton were doing. Most Americans which BTW does not include me could not begin to tell you what legislation was passed under FDR's watch or why it was passed or why its a bad idea to remove it.

Its actually one of the reasons why Obama's rhetoric about transparency is so appealing. Not that I beliee it one bit but at least its nice.

The elite is alive and well with a firm grip on the reigns. If you do not grasp that then the only moron here is you.

[Gino]

#16 - The American Consumer

Owned.

[baseline bum]

Yes, the crisis can be pinned on 25 - 30 people. The general public had nothing to do with it.

You guys are fucking morons . . .

Not sure if we should pry Smeagol's lips from Gramm's balls before we hang him by them...

[NFGIII]

Nice article and it sems that the last two presidents are going to get most of the blame according to the votes in the article. Obviously many had a hand in it and no one person will be the "villan". Unfortunately for us this is a perfect example of the corruption of power in this country. It's all about the benjamins and frankly always has been but the excesses are far greater now then at any time on our history except for the Great Depression.

We will survive this just like we did the Great D but will we learn our lessons? Or will we continue to repeat the same type of scenarios in future generations?

My confidence in US leadership is at a all time low.