SWA GUY
BMF
- Joined
- Apr 27, 2002
- Posts
- 627
I'm not saying it wasn't. My point was .Gov wasn't watching Wall St or the investment banks like they probably should have. In this video it's said that the FAA doesn't keep an on eye Boeing because it trusts Boeing to police itself.
Well.... the Gov, under the hands of Barney Frank and Chris Dowd, wrote the rules for the investment banks and Wallstreet, not to mention Fannie Mae and Freddie Mac. The House and Senate banking committees were warned on numerous public occasions that the Affordable Housing Act would eventually sink our housing and banking markets. They chose to ignore this information.
The person directly responsible for watching Wallstreet, at the time of the banking collapse, was none other than the Chairman of the New York Federal Reserve. His name was Timothy Gietner. Guess what his position is today...