According to the Mayor of New York City, one-percenter Bloomberg – if there is anyone to blame for the mortgage crisis that led the collapse of the financial industry, it’s not the “big banks,” but Congress.
I’d go along with that but for one thing – it takes two to tango.
Congress (aka, Barney Frank) may have tilted the field by pushing and allowing Fannie & Freddie to ‘relax’ loan policies, but this has to spread to the banks in order to complete the process. And don’t forget, President Bush sounded warnings about this and tried to get Fannie & Freddie investigated – but Congress, aka, Barney Frank and others, prevented that.
You’re pandering again, Mayor, you reeally need to clean up the place. Starting with the park.