The Ross Rant
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You are right to say there is plenty of blame to go around but it seems to me you gloss over the biggest culprit in this mess which are the Investment Banks and their corrupt culture, as well as their iherently flawed structure that shifts risks to stock/bond holders and in many cases to the American taxpayers. Yes individuals bare some responsibility and some people will be helped that should not be but all of this pales in comparison to the bailout of the criminal Investment Bankers. Read THE BIG SHORT; you seem all too willing to pass on the main culprits who should have known better and have crippled the economy for decades to come. They will likely do it again until there are real consequences for their actions. The poor have been getting screwed like never before by the same institutions you want to give a passes to. It is all very tiring.
Posted by Robert Hackman | Thursday, February 23 2012 at 10:13AM ET
You are right to say there is plenty of blame to go around but it seems to me you gloss over the biggest culprit in this mess which are the Investment Banks and their corrupt culture, as well as their iherently flawed structure that shifts risks to stock/bond holders and in many cases to the American taxpayers. Yes individuals bare some responsibility and some people will be helped that should not be but all of this pales in comparison to the bailout of the criminal Investment Bankers. Read THE BIG SHORT; you seem all too willing to pass on the main culprits who should have known better and have crippled the economy for decades to come. They will likely do it again until there are real consequences for their actions. The poor have been getting screwed like never before by the same institutions you want to give a passes to. It is all very tiring.
Posted by Robert Hackman | Thursday, February 23 2012 at 10:14AM ET
I regularly read Ross' blog. I noticed that there is a recurring lack of sympathy for homeowners who are in trouble. The fact is the foreclosure crisis is a social catastrophe caused in large part by the issuers of mortgage backed securities. There will be no quick clean sweep to get people out of their homes. Nor should there be.
Posted by M Hunt | Saturday, February 25 2012 at 9:34AM ET