I’m tired
So I keep hearing congressional officials blame goldman executives for this entire economic crisis. I do not claim to understand the complexities of their derivatives and if they actually broke the law. However, I am sick and tired of congress blaming everyone else. Wasn’t the mortgage crisis the foundation of the credit problem that led to this crisis? Shorting the market can only make money if the market is going to fail. Who was it that pushed, even forced, banks and lenders to grant sub-prime mortgages, these very sub-prime mortgages in many of the bundles they are targeting Goldman for shorting? THis was the pet project of congress to force banks to loan to those who would most likely default…with their FNMA and Freddie Mac. I’m not even going to take a political side on this…I would just like the government to stop using a crisis that was just as much their fault as anyone’s to change everyone else, but not themselves. This was a rant sparked completely by watching these debates in congress…sorry if you don’t care, i don’t exactly know why it bothers me so much.
