The good news: we did have some controls in place to predict and prevent this economic crisis. The bad news: the Bush administration let it happen anyway. The ugly news: major US bond rating agencies never checked any of the mortgage backed securities they certified as "AAA" because they knew they were toxic. This suggests many were complicit in willful fraud with a years long advantage over the public in "getting out" first. |
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(OpEdNews Contributing Editor since October 2006) Inner city schoolteacher from New York, mostly covering media manipulation. I put election/finance reform ahead of all issues but also advocate for fiscal conservatism, ethics in journalism and (more...)