--- In AsburyPark@yahoogroups.com, "justifiedright"
<[EMAIL PROTECTED]> wrote:
>
>
> Politicians are such phonies. Why isn't the bank veto power in the
> news?
>
It absolutely was and is if you read enough. Pick up today's WSJ and
read about Volcker and Obama. We needed to follow the Brits. Prop up
the banks and let them take the hit on writing down mortgages. They
will be forced to but there will plenty of pain to go around. Just
buying the "assets" at too high a price lets them off the hook and the
taxpayers must swallow the loss on the mortgages if the gov writes
them down.
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