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 @p2wy Glove box. And this goes back to when I worked in industry w/AmericanESL speakers, which made it kind of a problem.
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emptywheel @p2wy I use Irish slang a lot, for obvious reasons (also sometimes forget I'm supposed to call it a "glove compartment")
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emptywheel @KimZetter I was just thinking it must be hell on Wired's editorial staff.
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emptywheel @TimothyS Also, "Did SAIC and Raytheon oversee some catastrophic mis-implementation of CIA's reporting system in the aughts"?
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emptywheel RT @saftergood: New CRS report examines the growing frequency of mass shootings http://t.co/0U59Yr6fRd
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emptywheel Fr weekend: We ought to consider report that Adm Rogers overly focused on CENTCOM given claim US will "deter" China. https://t.co/xSXEPa01DZ
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emptywheel @TimothyS Speaking of which, you may find this of interest. https://t.co/nShubBLB7W
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emptywheel @billmon1 Don't Ask, Don't Tell.
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emptywheel The Things Our Allies Tell Us — Or Don’t, Middle East Quagmire edition https://t.co/qkxTdrHLJo
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emptywheel And at the very least a pre-USA Freedom Act implementation canary would have been useful. https://t.co/xXtKpl3B1M
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emptywheel Methinks we've now gotten to the "doth protest too much" stage for these clowns. https://t.co/NE14lzv1u1
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bmaz @ScottGreenfield I hope you have a nice laser color printer. It really jumps in color.
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August 2015
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