Saturday, December 25, 2010
Top 12 list of who is getting a free pass from the MSM inspite of their role in housing meltdown.
Top 12 list of who gets free pass from Main Stream Media:
1. Appraisers
2. Home builders
3. Home builder lending divisions
4. Local municipalities that allowed an increasing number of homes per acre in order to generate more and more revenue to spend, rather than have a higher quality of life with less density.
5. Hank Paulson
6. Nearly all Economists (except a select few) who repeatedly ignore the reality that perfect information and perfect pricing do not exist anywhere other than a class room.
7. The Creators of the Credit Default Swap in order to "straddle" the real estate backed securities as you can go long or short with stocks.
8. All of Wall Street for taking the one thing that was left where the little guy could participate and make a profit, and exploiting it until the housing market vaporized.
9. All of the TBTF banks who have devastated the economy by refusing to rid themselves of their toxic assets for nearly three years.
10. The federal government for its extremely preferential treatment of the finance industry and complete lack of concern for the middle class America.
a.) And their failure to reduce the length of the recession by reigning in the banks and making them use the TARP funds as a way to unload toxic assets in 2008.
11. Everyone who thinks we can come close to 5% employment in the country without a strong housing industry.
12. All the news channels, TV, and print reporters who drank the bank kool aid for 3 years promoting the lie that the housing crisis was contained within sub prime mortgages.
ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism
13 Bankers: The Wall Street Takeover and the Next Financial Meltdown (Vintage)
Science of Getting Rich
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