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

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bmaz RT @rickhasen: Allowing Hawaii election to go forward but not allowing votes to be counted echoes #SCOTUS dispute in Bush v. Gore https://…
emptywheel @flexlibris Your larger point, of course, still stands.
emptywheel I Con says FISC still hasn't decided whether or not it can keep dragnet data. Did FISC have too much turkey wine?
bmaz Well, in fairness, it is getting ever harder to remember what the 4th Amend actually does protect us from anymore
emptywheel Suck it, Jeb! Bush.
emptywheel Oh, I dunno. What if the world's biggest book (&etc) store also provided the server for the CIA?
emptywheel @empiricalerror As you were saying...
emptywheel Making turkey tortilla soup with the first gallon of broth. Take that Michael Dukakis!
bmaz RT @RosenzweigP: The background reality on refugees: A Primer on Refugee Law
bmaz @astepanovich Meh, no big deal, simply repudiating everything this country is founded on.
emptywheel @jakemcintyre That would take all the fun out of things. @DonteStallworth @Notorious_BOD_
November 2015
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