So Steve mentioned this earlier in his post where he highlights the good, the bad and the ugly from last night…

But I think this certainly demands it’s own entry:

 

5 Responses to DON’T BLAME THE BANKS!

  1. JMPrince says:

    No, he’s not right on much of anything. Not on the substance, not on economics, not on history. He’s just Louder. That’s it. In no instance is his & the usual Repug fantasy scenario anywhere near correct. And anyone with with any serious knowledge on the subject knows that. Again, Wash Post with Ritholtz:
    http://www.washingtonpost.com/business/what-caused-the-financial-crisis-the-big-lie-goes-viral/2011/10/31/gIQAXlSOqM_story.html

    I know we’re all like post literary here, but it pays to read. What Ritholtz was saying is seconded by those nest of Reds @ Forbes: ‘The Capitalist Tool’ (TM) here:
    http://www.forbes.com/sites/robertlenzner/2011/11/06/ritholtzs-the-big-lie-in-the-big-picture-lays-the-truth-on-the-line/

    We can not let the Big Lie be allowed to stand. Really. JMP

  2. Jules says:

    Apparently now he’s blaming it on an “empty stomach”

    Alrighty then, but thanks for the Youtube gold any-who

    http://thepoliticalcarnival.net/2011/11/09/quickie-rep-joe-walshs-bizarre-temper-tantrum-aw-poor-wittle-ting-was-just-hungwy/

  3. Ladida says:

    What an asshole.

  4. Ed says:

    The sad thing is he’s actually correct about a pretty substantial part of the problem but then horribly misdiagnoses everything else.

  5. JMPrince says:

    Yeah amazing the quality of the ‘representatives’ we’re sending to Congress, etc. All of them need to be drug tested too. But defeating Rethug memes is where it’s at now.

    So here we’ve got economist Mike Konczal telling us once again what Fannie & Freddie did & did not do before, during and after the crash here for Barry Ritholtz’s Big Picture Blog:

    http://www.ritholtz.com/blog/2011/11/hey-bloomberg-the-data-shows-gses-did-not-cause-financial-meltdown/

    “Hey Mayor Bloomberg! No, the GSEs [Fannie & Freddie] Did Not Cause the Financial Meltdown (but thats just according to the data)”.

    One of the big propaganda lies out there. Others are mentioned here by Barry recently for the Wash Post:

    http://www.washingtonpost.com/business/what-caused-the-financial-crisis-the-big-lie-goes-viral/2011/10/31/gIQAXlSOqM_story.html

    JMP