Savings & Loan Crisis

David Gregory & NBC Give John McCain Blowjob; Screw Americans

Saturday evening, the New York Times put up an important editorial, The Banks Win Again, on its website regarding the financial crisis, an editorial piece that would be key in their Sunday Morning Edition Opinion Section:

Last week was a big one for the banks. On Monday, the foreclosure settlement between the big banks and federal and state officials was filed in federal court, and it is now awaiting a judge’s all-but-certain approval. On Tuesday, the Federal Reserve announced the much-anticipated results of the latest round of bank stress tests.

How did the banks do on both? Pretty well, thank you — and better than homeowners and American taxpayers.

That is not only unfair, given banks’ huge culpability in the mortgage bubble and financial meltdown. It also means that homeowners and the economy still need more relief, and that the banks, without more meaningful punishment, will not be deterred from the next round of misbehavior.

The nation is on the cusp on having the government, both federal and states, sign off on arguably the biggest financial fraud on the American public in history, and doing so in a way that massively rewards the offending financial institutions and refuses serious investigation, much less prosecution, of any participants perpetrating the conduct. This pattern of craven conduct cratered not just the US economy, but most of the world economy.

In the face of all this, David Gregory and MTP had on the Sunday morning show one of the most senior Senators in the United States Senate, John McCain, who serves as a key member of both the Governmental Affairs and Health, Education, Labor and Pensions Committees, both of which Continue reading

Emptywheel Twitterverse
emptywheel @lizzwinstead Get the feeling there was some quick and broad and well-financed coordination on that response.
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emptywheel @JasonLeopold Bingo. Saw that. Need to go back to that one. Timing is very interesting too. And the FoPo withholding.
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emptywheel @JasonLeopold Oh, I remember. So this is CIA White PAper and the other is the DOJ White Paper? Or just that DOJ didn't refer other to CIA?
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emptywheel @JasonLeopold Ah thanks.
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emptywheel RT @TondaMacC: The easiest form of terrorism: no need for sophisticated plots, or training, or financing, by @shephardm: http://t.co/DSQdPF
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emptywheel @JasonLeopold Which one is that on--11/11 or 5/11?
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emptywheel RT @JasonLeopold: JUST FILED: CIA declaration in my #FOIA case re: CIA white ppr turned over to me justifying assassination of Awlaki https…
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emptywheel @maassp Thanks for pointing that out. It has been a largely male celebration of a great career.
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emptywheel @liferstate Not convinced any cohort is succeeding at this point.
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emptywheel @liferstate Good point. But in the meantime our collective pants-peeing will prevent any effort to address climate change.
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emptywheel @maassp I was interested in your comment abt being white male--his tributes are mostly from white men. Bc of the time?
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emptywheel RT @abc7newsBayArea: JUST IN: Dallas nurse Amber Vinson who contracted Ebola from Thomas Duncan is virus-free. http://t.co/mNDQTT1jd3 http:…
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October 2014
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