Bush suddenly an interesting character again

[classicman]

Hey sugarpop - do you think congress has any culpability in this mess? Are they responsible at all for any of the financial issues we are dealing with? I'm interested in your opinion.

[sugarpop]

Originally Posted by classicman

Hey sugarpop - do you think congress has any culpability in this mess? Are they responsible at all for any of the financial issues we are dealing with? I'm interested in your opinion.

Of course they do. And anyone in Congress who was complicit in any way that could be deemed illegal or unethical or neglectful should be dealt with in whatever way is open to us. I'm sick to death of corruption and greed, and Congress (and politics in general, just look at blago) is ripe with it. But people in Congress did not write all those mortgages, knowing they were probably going to be bad, and then sell them over and over and over. And Congress did not give billions of dollars in bonuses and salaries to a few executives while they were driving us into the toilet. This global meltdown started HERE, with OUR financial system. And it all started with mortgages and banks and Wall Street. I'm wondering if they even teach ethics at Wharton or Harvard Business School anymore.

They need to put reasonable regulation, transparency and oversight back into law. I believe ultimately, deregulation caused a lot of this.

[classicman]

Originally Posted by sugarpop

Of course they do. And anyone in Congress who was complicit in any way that could be deemed illegal or unethical or neglectful should be dealt with in whatever way is open to us. I'm sick to death of corruption and greed, and Congress (and politics in general, just look at blago) is ripe with it.

Did you read the thread "How a 'perfect storm' led to the economic crisis"

I find it ironic that those calling for investigations were themselves as involved in the oversight as those they are accusing. Dodd, Frank...

No the congresspeople didn't write the loans - that we agree upon. But it sure seems that the financial lobbyists they were very close with knew what was going on. They sure as hell have a lot of explaining to do and should stop the finger pointing.