cheeflo Wrote:
Apr 18, 2012 12:01 PM
The sub-prime lending was certainly the crumbling foundation of the financial sector's woes, but I also think that there were concerted efforts to compromise the economy in order to get Obama into office. Right off the top of my head, Chuck Schumer's "private" letter expressing concern for Indy Bank's solvency was deliberately made public, causing a run on that bank, followed by the cascading consequences. Once the ball was rolling, the architects of the crisis couldn't contain it. A combination of unwitting idiocy and pernicious opportunism.