We Are So Screwed

I would just go back to the way in which the market was muscled under the GSE’s [Fannie Mae and Freddie Mac] to do zero down payment loans because the presumption was that we wanted to get everyone into a house.

Republican Congressman Ed Royce of California who is hoping to become Chairman of the Financial Services Committee on the grounds of his knowledge and experience. 



Those poor bankers. They're the real victims. They didn't want to generate huge fees and bonuses by securitizing crap mortgages. They were "muscled" by the government.

Republican candidates may have ranted and raved about bank bailouts, but anyone who thinks that the new congress won't be as big a lackey for Wall Street as the Democrats is delusional.