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 @adamjohnsonNYC The Big-B business of dictating what the Big-F future will be?
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emptywheel @adamjohnsonNYC I think he means big-F Future.
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JimWhiteGNV Today I'm celebrating freedom from another arsonist rat who met his fate last night in my electric tunnel of doom. http://t.co/EGYA5Bz09J
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JimWhiteGNV To celebrate July Fourth, how about a little truth in advertising? Let's change DHS to the Fear Department. Attention @FearDept
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emptywheel @jjmck79 I went to market, plan on cooking (though spouse just made me pancakes). Will clean up sewing table I rarely use.
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emptywheel @jjmck79 Oh, I would have been cooking and cleaning and sewing, not having benefitted from equality or an education.
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emptywheel RT @ExumAM: What an incredible, ambitious human experiment. So proud to be a part of it. http://t.co/FteKYAMyT9
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emptywheel May everyone have the kind of fearful Fourth that would have prevented us from winning Independence if our forefathers thought like that!
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JimWhiteGNV RT @RaysBaseball: Twelfth inning. Time for ice cream, obviously. http://t.co/VsFMJqOWvz
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bmaz @RPullen @stephenlemons @Steve_Irvin That is pretty much an incoherent response. But whatever.
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emptywheel @pastordan REALLY not a fireworks fan, especially living in place where everyone sets them off. Was interesting learning abt buying process
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