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Federal regulators say the letter written by a grandstanding Sen. Schumer led to a $1.3 billion run on IndyMac causing panic and a run on the bank.
Schumer claims he's like the guy who called 911 and now is being blamed for the fire.
You be the judge. In the meantime, welcome to Potterville.
UPDATE: The WSJ argues that Schumer "cried fire in a crowded bank." So do fed regulators. Welcome to Schumerville. Just scroll down
Schumer claims he's like the guy who called 911 and now is being blamed for the fire.
You be the judge. In the meantime, welcome to Potterville.
UPDATE: The WSJ argues that Schumer "cried fire in a crowded bank." So do fed regulators. Welcome to Schumerville. Just scroll down
posted by Spencerblog at
6:51 AM
9 Comments:
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LibDems: Doing their darndest to ruin the economy so they can then scream and point at Bush.
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Deep. ...for a third grade girl.
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Down to second grade now. About the usual depth of the "arguments" you bring here, DDD.
You really can drag down a blog with your childish Lib crap.
David,
Could you explain in economic (not political) how Bush and Cheney caused the downfall of the housing market?
Weren't these "loan" and "mortgages" started during the Clinton years? They never even made a blip on the radar.
Then again, there's about 30 to 50 youtube videos of Dems in the Senate and House proclaiming how great these deals are because they get the middle class into nicer areas and homes back in 1998-2002.
But it's all Bush's fault... What would any president have done in that situation? Obviously King Bill didn't do anything the entire time yet he was somehow an economic genius.
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Liberalism Killed the Mortgage …and our economy.
The biggest problem was the LibDems with their misguided Affirmative Action coercing the mortgage industry and pressuring them to extend risky credit to those losers who had no business owning houses they couldn’t afford in the first place.
It was bound to backfire sooner or later, as Libism always does. This is what happens when policy is corrupted by Lib feelings.
Whenever a problem comes along, big or small, you can usually find touchy-feely misguided Liberalism as the cause.
But the deep thinker Daves just scream “Blame Bush!” while hoping everyone forgets it was they who created this mess.
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