Here is a quote I just read from the book I am readin called It takes a Pillage, by Nomi Prins.
"The Second Grat Bank Depression has spawned so many lies, it's hard to keep track of the biggest. possibly the most irksome class of lies, usually spouted by Wall Street hacks and conservative pundits, is that we're all vitims to a bunch of poor people who bought McMansions, or a least homes they had no business living in. If that was really what this crisis was all about, we could have solved it much more cheaply in a coupled of days in late 2008, by simply providing borrowers with additional capital to reduce their loan principals. It would have cost about 3 percent of what the entire bailout wound up costing, with comparatively similar risk.
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I started ophph with nuthin, and I can safely say I have most of it left.... <img
