Reply to thread

Message: <blockquote data-quote="frank75" data-source="post: 896550" data-attributes="member: 37647">So because you read a book you're now the authority on how the financial world crumbled. Really? I appreciate your statement of always trying to further your education but it appears you've missed the obvious bias from Gretchen Morgenson, or should we say Press Secretary Morgenson of the failed Steve Forbes Republican Presidential campaigns. The same Steve Forbes who hired Morgenson back in the eighties, the same guy who's on the Board of Directors of the Republican fund raising machine FreedomWorks (the creation of those unbiased Koch brothers). Forbes has been Morgenson's benefactor for years and you really think her book is unbiased?I will agree many pols from both parties are not innocent in the effect of past legislation but the concentration of blame on Barney Frank is ludicrous. Frank was a minority Congressman from '95-'07 but somehow had unlimited influence and power. As far as Freddie/Fannie involvement, how does issuing loans to 2% of the population (under the Community Redevelopement Act also passed by a Republican congress) cause the entire economy to crash? Only one in twenty five lenders that did sub prime loans were involved with CRA loans, but lets heap the blame on those lazy poor people ripping off the rest of us again! Obviously it couldn't be the exemption from capital gain tax on home sales (also passed by a Republican congress) having anything to do with speculative home purchasing. It was all Barney!    It's pretty obvious from your lack of citing ANY Republican lawmakers who voted overwhelmingly to repeal Glass Steagle (on a mostly party line vote, before the final conference vote) where your real loyalty lies.  </blockquote>

Verification