The reason I keep pimping Rolling Stone's Matt Taibbi is because I inevitably go, "Damn, I never thought of it that way" every time I read one of his essays. I probably do that because he's a helluva lot smarter than I am.
Wall Street: Less Responsible Than a Coked-Out NFL Running Back
Damn, I never thought about Great Depression v.2.0 that way.
But I did think of the Republicans' plan to pin their mess on liberals and poor minorities this way, taken from an earlier Taibbi blog:
There aren’t enough low-income minority homeowners in the remaining years of human history to create $62 trillion worth of pressure on the economy. You’ve got not billions but trillions of dollars tied up in the Wall Street equivalent of a craps game – the ruling class of the earth gambling away the whole world’s bank deposits on a dice roll, which is about as irresponsible a use of resources as can be imagined – and guys like York want to blame the blowout on a few black people who tried to do something absolutely and completely sensible with their money, buying houses they intended to live in.
I'd love nothing more than to offer a link to his blog, but I'll also keep pimping him to you all just in case.
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The scary thing about this crisis is that you truly can't blame just ONE group of folks for this collapse.
Predatory Lenders - check
Irresponsible Borrowers - check
The Fed lowering the cost of funds SO low that banks lent money to everybody that could cause a window to fog - check
The entire Mortgage Backed Securities market and their insurance backers - check
Conservatives push for continued deregulation - check
And so forth and so on....
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