Thursday, April 22, 2010
...after countless firms are long folded, corporate records lost, and former employees hither and yon:
The top management of leading originators and securitizers of stated-income mortgages should face criminal charges. While they may say that they didn’t understand the fraud which was committed, there is no question they led these organizations. There is no question complicity within management was required. Loan officers acted recklessly and dishonestly and criminally, as did borrowers, but neither loan officers nor borrowers decide that supporting documents verifying statements about income are unnecessary. That’s a management decision.
Posted by Amicus at 4:49 PM
Wednesday, April 7, 2010
From the financial debacle inquiry:
Commission member John Thompson asked her, "Is it fair to say that the risk management function at New Century was window dressing to perpetrate fraud?"
From Rachel Maddow's guest on the mine safety latest chapter in a long, long line:
(paraphrase) The regulatory equivalent of legalized manslaughter.
Posted by Amicus at 8:15 PM
As if we weren't polarized enough, the Devolutionary Conservative Governor of Virginia, recently in the news for yanking non-discrimination policies for State employees, declared "Confederate History Month".
One continually gets the sense that conservatives are trapped by history, not honoring it or its lessons.
Every time one might wince at the statue of Sherman at the corner of Central Park, one simply has to remember Governor Bob McDonnell, I suppose.
Posted by Amicus at 7:55 AM
What's worse than organizing the poor to vote, generally put? Well, providing legal aid services. D'oh!
Truly, these both are landmarks of the new Gutter Conservatism.
Rachel Maddow outlines the way that a smear was effectively carried through a concerted campaign against the group ACORN (although I think they miss putting the 'undercover reporting' in the context of a long, sustained targeting campaign).
Posted by Amicus at 7:06 AM