I really don’t know if I am tired of every one throwing amount the wrong term “bailout” or the Americas stupidity on how the economy works. While many believe that the bailout is about Wall Street the true fact is this is a “credit market” crisis. Which is a far cry from the Wall [...]
NEW YORK/WASHINGTON (Reuters) - Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion.
Thursday’s seizure and sale is the latest historic step in U.S. government attempts to clean up a banking industry [...]
h/t to McBlogger for a fine post on how Barney Frank has co supported bill that will make sure there isn’t anyone to keep the banks honest. And, take away the safety net that consumers have with mortgage brokers and keeping the market competitive.
Why is Barney Frank pimping for big banks?
This morning, HR 3915 [...]
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