All the Devils Are Here: McLean and Nocera Point Finger at ... Everybody

I think people really need to read up on some of the bearish points of view in order to clearly see what's going to happen in the future.
I personally believe that we will be going up and down in the 11000 Dow range for the next year and then we will see some major changes. As bad as todays fall looks and as bad as it's been the last 7 days for the market, I think it will grind it's way back up when you start to get more upbeat news for the holiday season and ed of year sales.

Hey there A Yahoo! User-

I COMPLETELY AGREE with what you said:

Some of the lawmakers who spoke out the toughest against Wall Street happened to be Democrats who were targeted by corporate funded Superpacs and voted out. Feingold, Perriello, Grayson voted out and DeFazio barely survived. Overwhelming Republican victories will ensure more kowtowing to Wall Street in the near future. Don't complain if you voted for the corporatist Republicans. Think "Back 2 Bush" - more deregulation, wars, and tax cuts for the rich and corporations. American idiots will get what they deserve.

BUT weren't you one of those people who was really pushing for voting out incumbents on this and other boards leading up to the midterms??? Now you're saying that the whole lot of fools who just voted these guys in are going to cause another mess.
I have been saying that since day 1, decide what want to stand for and what you actually believe in then blog\comment.

All I have to say is BAM, RIGHT ON THE MONEY!!!

Although certainly complex, in some ways this is very simple. The underlying problem is that the lenders could pocket short term profits without regard to the actual risk. What is it about the structure of our economy -- and of the corporate form in particular -- that allows this? We need to restructure things so that the guys responsible for approving/making the loans FEEL the risk -- THEIR greedy asses must be on the line! Not just the shareholders', not just the directors', not just the borrowers', and certainly not the taxpayers'. As cliche as thissounds, it really does come down to moral hazard.

And yet, there are con men and there are suckers. You can blame the suckers for taking the bait, but suckers should not go to jail. Con men should go to jail... and that is something we have not seen yet and the lack of any meaningful prosecution has left a disillusioned nation believing that that there is no law and certainly no quality under the law.

Bankers and their complicit con men cannot be absolved by saying it was just one of those things, everybody's fault. Suckers cannot force honest people to con them.

Lack of moral authority is a good way to describe Alan Greenspan. I think he is capable of reading a chart, saw that housing prices were going up too fast and chose to ignore it.

People are inherently greedy so this entire mess was a culmination of diverse groups of peoples and institutions acting in their own interests and being able to rationalize it as being in the publics interest. The government wanted everyone to own a home, individuals wanted to give their families nice places to live, banks and other lenders wanted to make money for shareholders and at same time do something for themselves. It's not like people had bad intentions. It just goes to show how sometimes the best intentions if not held in check can become a disaster. If government tries to regulate, people scream it's not their job and if they don't regulate people scream where is the government? Problems go back to Reagan era. We should have listened to Jimmy Carter!

The authors could have used one word to sum up the fall of our financial system: Greed.

What a joke. The scub bags on Wall Street have already set up the next bubble. The ignorance and greed of the American people is unbelievable. Double dip? You ain't seen nothing yet!

At last - a "fair and balanced" over-view.