U.S. Is Set to Sue a Dozen Big Banks Over Mortgages

[quest55720]

Huh? After all that's transpired due to lack of proper government regulations? Not sure if serious?

Well that would be the fault of Frank Dodd and the democrats. John Mccain tried to get Fanny and Freddie under control. Those democrats would not let them because they wanted all those horrible sub prime mortgages. If we sue the banks we should through those in jail who protected the corrupt freddy and fannie.

 

[Nemesis 1]

qfmft

Nice red herring Clinton 1999

 

[HendrixFan]

Right, because government mortgage guarantees through the GSEs is a function of the free market.

The GSE's didn't cause the collapse. The completely unregulated derivatives did.

Lots of things fed into the housing boom and collapse, but the only thing that made it more than a normal boom/bust cycle was the derivatives market that fed it.

 

[Budmantom]

OP should have said . Obama starts legal proceeding against banks to get votes in 2012. Clearly its a political fruit tree that will bare NO fruit.

Just like Obama's jobs plan.... that is focusing like a LASER on jobs(one in particular).

 

[Fern]

So how much do these banks have to contribute to Obama's re-election campaign before this whole thing goes away?

Somebody 'gets' politics. :thumbsup:

Fern