All Posts Tagged With: "Obama’s 2013 Federal Budget"

The Shakedown

I don’t know what else to call it.  Last week’s “settlement” with the five biggest banks in the country, where the Obama Administration squeezed $25 billion to settle “claims” of “inappropriate” lending practices that resulted in 2008’s Financial Crisis, was nothing more than a shakedown.  The settlement suggests that there were no other parties involved in the creation of our most recent recession (assuming we are in economic recovery).  It did not go after the other responsible parties, namely, the people who took out mortgages they couldn’t afford, the people who packaged these loans into securities and sold them for huge fees, the people who bought the securities and ended up holding the bag, and the government that forced the banks to make substandard loans …


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