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
JimWhiteGNV @HayesBrown It was never in doubt.
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emptywheel @michaelbd But would they sell petro in dollars?
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emptywheel @BaFana3 Isn't Libya self-clusterfucking to a greater degree? Yemen may have already shot past it.
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JimWhiteGNV @Pedinska Not sure. We will watch him carefully for a few weeks. Neighbor's horse had two recently.
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JimWhiteGNV @Pedinska It was about a half inch diameter, at least.
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emptywheel @BradMossEsq Sure. If I were involved in that I'd point out that this is the second time version of this got "leaked" to AP. @Thomas_Drake1
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JimWhiteGNV Craziest inside the park homer ever. Goes as blown save.
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JimWhiteGNV LSU up by one in ninth, two outs. Batter hits ball, left fielder dives & misses. All Anerican shortstop tries to bail him out, sits on ball.
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emptywheel @Thomas_Drake1 Don't think it's to shift narrative. It's to lead us to believe they're going to end phone dragnettery in June. @BradMossEsq
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JimWhiteGNV At this point, no reporter should ever interview Rick Pitino without a clove of garlic and wooden stake at the ready.
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emptywheel @CasparBowden I suspect one big issue is doing dragnetty things usable w/smart devices, which is more 702-like production. @korch
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emptywheel @CasparBowden No. But extant OLC memo says NSA can do it w/voluntary production. Just need to get "voluntary" compliance @korch
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March 2015
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