Is "Too Big to Fail" Too Light on Blame? "Too Big to Fail," the HBO film based on Andrew Ross Sorkin's book that premiers tonight, has its moments. The docu-drama offers a clear and concise play-by-play of the complex events that brought down Bear Stearns, Lehman Brothers, and AIG. And that's a great public service, since those are not easy events to grasp or remember. But does it get to the point? Beyond nailing down the crisis logistics, what the viewer ultimately wants is some insight on who's to blame. And that's something "Too Big to Fail" does its best to avoid. Read more: http://curiouscapitalist.blogs.time...big-to-fail-too-light-on-blame/#ixzz1NItZlNsq My question is why the hell not? Ever since the spectacular crash, there has never been one indictment, none, zero, nilch! Oh, never mind Maddoff and other Ponzi schemes that the inglorious bastards at the DOJ claim to have brought down. These have NOTHING to do with the Subprime Crisis!
From the Article: "But there are even bigger questions "Too Big to Fail" leaves unchallenged, like what's wrong with a tight circle of people flowing between banks and government? And why has the Fed been so absent in regulating banks? For Ross Sorkin, who has been criticized for his cozy relationship to sources, these questions may already seem answered, or perhaps not worth the time. But the American public still feels in the dark."
well since politicians mandating overextending loans to people who can't afford them- i'm not surprised no one has really taken any blame. politicians won't ever take the blame for the financial collapse that they caused. just like they won't take any of the blame for the shitstorm that the student loan market is becoming and will develop into over the next decade or two- imagine how much cheaper school would be if there still weren't any federal guaranteed loans.
what a bunch of bullshit, viewer wants some insight on who's to blame? look in the fucking mirror. If it has to be narrowed down to 1 group, i blame the average american retards who cant grasp the simple concept of earning x $ monthly income vs paying y $ mortgage.
+1 but was it their fault? or the politician's fault because they made laws mandating that banks make these bad loans. but then again i guess it comes back to the average american who voted those dumbass politicians into office in the first place.
Who is the bigger idiot? The idiot that wants to borrow more than he can repay, or the idiot in charge of millions of dollars of other peoples money that gives him the loan?
You know....you almost make sense there.....almost....... But nah - the guy in the suit who makes loans for a living was obviously outsmarted and deceived by the 'po folk again... I mean, Nevada and Florida has the highest foreclosure rates - and you know what kind of ghettos those places are....
There seems to be a fundamental lack of understanding on this issue. A 20% down 30 year mortgage is a "bad loan". The people who are too blame for this are, first and foremost, voters who kept ignoring fiscal realties and voting themselves beer and ponies and granite countertops.