Author: James FenimoreJames Fenimore Date: Sep 22, 2008 13:12
BLAME for FINANCIAL CRISIS? Look No Further than WALL STREET!
Including Your Pal Paulson!
"One has to wonder why Treasury secretaries under Presidents Clinton
and Bush -- Robert Rubin and Hank Paulson, respectively -- took no
action to curb these abuses. It certainly was not because they did not
understand Wall Street's practices -- both are former chief executives
of Goldman Sachs. And why has Congress been so silent?"
housing prices have dropped 20 percent from their July 2006 highs,
with the very real likelihood that housing could contract another 15
to 20 percent -- essentially wiping out more than $4 trillion in
housing values. This would be the biggest hit since the Depression to
Americans' most important asset."
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"Calling Out the Culprits Who Caused the Crisis"
By Eric D. Hovde
Sunday, September 21, 2008; B01
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