You Want to Prosecute Somebody? Start with the Democrats
I’m not saying it does. No, no, no, no. Wait a minute. (sigh) I’m not trying to justify crime, but when you have the… I don’t know. Barack Obama is telling the banking industry what it can and can’t charge and what profit he will accept and what level of profit he won’t accept. Bill Clinton and Jimmy Carter came up with this scheme that resulted in the subprime mortgage crisis. They said it was unfair that poor and minority people didn’t have houses, so we’re basically gonna give ’em houses. How are we gonna do that? We’re going to make the banks loan them money, knowing full well they can’t pay it back. Janet Reno threatened a number of Wall Street bank people with all kinds of investigations and prosecutions if they didn’t make these loans.
Now, it’s risky saying this because I sound like I’m coming to the defense of bankers. My total anger here is related to big government, oppressive government, leftists from Bill Clinton to Jimmy Carter and now Barack Obama wanting to micromanage and centrally plan the private sector economy in this country to the point of eradicating it and destroying it. So these guys at the banks have just been told to give away money. Okay, fine. They have to show profit for their shareholders, they have to stay in business, and how can they if they give money away? So, what do they do? You may call it criminal. They came up with ways to pass the buck down the line. They created a bunch of products that had no value, but they touted value. You may think that’s a crime. It could well be, and I’m not saying it’s justified.