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applegrove

(118,767 posts) Sun Mar 10, 2013, 11:14 PM Mar 2013

"The Government Still Doesn't Want You to Know What Caused the Financial Crisis"

The Government Still Doesn't Want You to Know What Caused the Financial Crisis

By Erika Eichelberger at Mother Jones

http://www.motherjones.com/mojo/2013/03/financial-crisis-inquiry-commission-lawsuit-documents-cause-action

"SNIP..............................................

The [final] report, as I understand it, says [the financial crisis] was a preventable thing and preventable by lots of different measures. The Republican dissent is that this was caused by Fannie Mae and Freddie Mac. That's one of those disputes where it's not just two interpretations of common facts diverging from one another. Those are two different narratives coming out of the same commission, which lead in two different policy directions and really tell two different stories.

There are powerful incentives in certain institutions to just leave it at that. The most obvious one is the "he said/she said" journalism, where you say, "This is what the commission Republicans said, this is what the Democrats said, and really—who can tell." The release of documents provides a way for people to provide a check on that tendency.

As Baumann reported, FCIC chairman Phil Angelides worried at the time that "there's going to be a very conscious, deliberate effort to rewrite [the] history [of the crisis], to wave this away like it was a bump in the road." Keeping the primary source documents hidden from the public makes that easier, of course.

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As Michael Perino, a law professor at St. John's University in New York who has written about the investigation of the causes of the Great Depression, told Baumann in 2011: "Opening up all those materials would allow independent investigators to pore through them and reach their own conclusions."

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8 replies

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Highlight:

"The Government Still Doesn't Want You to Know What Caused the Financial Crisis" (Original Post) applegrove Mar 2013 OP

I for one have always like primary information over the reporting of others. It is filled with applegrove Mar 2013 #1

Of course not! Their owners would be pissed off! Rex Mar 2013 #2

K&R! Fire Walk With Me Mar 2013 #3

Bush tax cuts. Coyotl Mar 2013 #4

just a foreshadowing... dtom67 Mar 2013 #5

Government SamKnause Mar 2013 #6

Of course not. Many of those responsible for the crisis are now running the government! Maven Mar 2013 #7

Not 'What,' Who. Octafish Mar 2013 #8

applegrove

(118,767 posts)

1. I for one have always like primary information over the reporting of others. It is filled with

Reply to applegrove (Original post)

Sun Mar 10, 2013, 11:19 PM

Mar 2013

information that otherwise might get lost.

Rex

(65,616 posts)

2. Of course not! Their owners would be pissed off!

Reply to applegrove (Original post)

Sun Mar 10, 2013, 11:20 PM

Mar 2013

The biggest crime of the century will be whitewashed just like the 9/11 commission was. The minions would never bite their masters hand. Too much money comes from that hand.

I assure you like every other massive crime against the taxpayer...this too will be covered up and 'filtered' to show it was the homeowners (taxpayers) fault. No one will blame their owners, the banksters. Might not get a nice campaign check if they do that.

Cannot have that!

Fire Walk With Me

(38,893 posts)

3. K&R!

Reply to applegrove (Original post)

Sun Mar 10, 2013, 11:23 PM

Mar 2013

Coyotl

(15,262 posts)

4. Bush tax cuts.

Reply to applegrove (Original post)

Mon Mar 11, 2013, 12:56 AM

Mar 2013

dtom67

(634 posts)

5. just a foreshadowing...

Reply to applegrove (Original post)

Mon Mar 11, 2013, 01:14 AM

Mar 2013

Of the next train wreck for the Great Ponzi that is our "economy". Don't think even bonds will be safe...

SamKnause

(13,110 posts)

6. Government

Reply to applegrove (Original post)

Mon Mar 11, 2013, 01:50 AM

Mar 2013

"The 'government' still doesn't want you to know what caused the financial crisis."

That's rich, pardon the pun.

The government, all branches caused it.

They sold our country to global corporations, global CEO's, Wall Street and corporate lobbyist.

They passed all the legislation that allowed this to happen !!!!!!!!!!!

Right or left, very few are looking out for 'we the people'.

The Supreme Court gave corporations more rights than living breathing human beings.

Our legislatures passed Free Trade Acts that devastated the working class.

Our legislatures deregulated Wall Street and then took tax payers dollars to bail them out.

Our legislatures allowed lobbyists to write the laws governing those they represent.

Our tax dollars subsidize corporations and they pay less and less in taxes.

Our Attorney General declared banks are too big to fail, too big to jail, and too big to prosecute.

I think anyone who is paying attention knows who caused the financial collapse.

Maven

(10,533 posts)

7. Of course not. Many of those responsible for the crisis are now running the government!

Reply to applegrove (Original post)

Mon Mar 11, 2013, 06:01 PM

Mar 2013

Octafish

(55,745 posts)

8. Not 'What,' Who.

Reply to applegrove (Original post)

Mon Mar 11, 2013, 07:33 PM

Mar 2013

And They were behind the previous crime of the century, the S&L robberies.

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