kootchman
John Travolta is a CEO…JTP Inc…. he owns his own production company….ooops.. sounds like a CEO to me..you are forgetting the party line…”millionaires and their private jets”…. No I suspect you will never get the connection between the housing bust and risks banks took… Fannie said sell em’ and we will buy em’..in fact..Fannie INVENTED credit default swaps. wanna see the tape AGAIN of BHO saying it was a good idea to bury bad risks in with good ones? The market could absorb the loses… geez and it was after…his Bank of America lawsuit…funny how those two are still so tied to the hip… The banks were told to make bad loans..when they balked.. the govt said bring em on… Clinton even signed the derivatives legislation, the now infamous credit default swaps…. when the element of risk was gone…a restraint on banks….and the government gave them a secondary market to sell them in… what did you think would happen? Remember the old saw… banks never lend except to people who don’t have to borrow? You sold cars… if your sales manager said write em all up… we have financing on every customer, we aren’t turning anyone down..if the car loans go bad,..if they wal through the door they are credit worthy…no money down, 110% of MSRP on every car… we will get paid anyway from the federal government.. you’d have crippled hands writing up all the deals. No risk.. no caution. The two amigos in the great rip off… the government and the banks… it was Butch Cassidy AND the Sundance Kid. You never seem to get beyond the banks. Is it too scary for you?