In response to:

Our Government-Created Financial Crisis

Cavalcanti Wrote: Dec 12, 2012 10:07 AM
CORRECTION: THE HOUSING CRISES WAS A DIRECT RESULT OF THE POLITICAL DECISION, BACK IN THE LATE 1990s, TO LOOSEN THE RULES OF LENDING. WAS THEN THAT THE LAWYER FROM CHICAGO, BARACK HUSSEIN OBAMA, THREATENED TO SUE BANKS LIKE CITY BANK, IF THEY DO NOT LOANED MONEY TO PEOPLE THAT THE BANKS KNEW THEY COULD NOT AFFORD TO REPAY. BARACK HUSSEIN OBAMA, TOGETHER WITH THEN, CEO OF FANNIE MAE AND FREDDIE MAC, FREDDIE RAINES, WHO MADE $90 MILLION WHILE RUNNING IT INTO THE GROUND,ARE THE MOST RESPONSIBLE FOR THE HOUSING CRISES AS WELL AS SEN. CHRIS DODD AND CONGR. BARNEY FRANK THAT RECEIVED LOTS OF BIG BONUSES FROM FANNIE MAE AND FREDDIE MAC. THE BUSH ADM. WANTS SET UP REGULATIONS FOR BOTH ORGANIZATIONS TO PREVENT THE CRISES.THEY REFUSED IT.

Suppose you saw a building on fire. Would you seek counsel from the arsonist who set it ablaze for advice on how to put it out? You say, "Williams, you'd have to be a lunatic to do that!" But that's precisely what we've done: turned to the people who created our fiscal crisis to fix it. I have never read a better account of our doing just that than in John A. Allison's new book, "The Financial Crisis and the Free Market Cure."

Allison is the former CEO of Branch Banking and Trust, the nation's 10th largest bank. He assembles...