July 11, 2013
Washington, D.C. and Wall Street doing just fine, thank you.
The entire calamity that was the '07 ' 08 financial debacle can be directly attributable to machinations of Wall Streeters and Washington DC politicians. The packaging of mortgages and the continual dropping of standards to originate those mortgages were the play things of those brokerage houses and certain politicians. These two areas, these two groups of people, have now become the beneficiaries of the crisis they perpetrated. Washington DC. The area is thriving in construction, home values, and salaries. And not just Washington DC proper, but any community within a commute or connected to the federal governmental money spilling machine. Wall Street First and foremost, no one has been prosecuted for malfeasance or securities violations regarding the financial meltdown in 07 and 08. Some say this lack of prosecutorial energy and diligence ensures another debacle. Trading houses go months without a losing day. Goldman, JP Morgan seem to have...(Read Full Post)