Ahhh wasn't George's brother Neil involved in all of that?
desert rodent wrote:
kaitainen wrote:i'm happy to see the overwhelming consensus on here is that a "bailout" is ill-advised, impractical/impossible or both.
i do hope that the government, state and federal, prosecute mortgage brokers who committed fraud. as well as the real estate flipping fraud rings who sold to one another with the help of a crooked appraiser. stupid buyers and mbs investors deserve to incur losses, but these criminals, who played a big role at the local level at least in artificially inflating home prices (which then hurt ill-informed first time buyers and mbs investors), deserve criminal punishment.
Didn't the Reagan govt. bail out the savings & loans institutions in the mid 1980's. Precedent has been set.