Friday, February 13, 2009

25 People to Blame For the Financial Crisis

Photo-illustration by Lon Tweeten for TIME

From Time Magazine:

TIME's picks for the top 25 people to blame for the financial crisis includes everyone from former Federal Reserve chairman Alan Greenspan and former President George W. Bush to the former CEO of Merrill Lynch and you — the American consumer. As you read our choices, we'd like to know who you think deserves the most blame, and the least. After voting on the relative guilt (or innocence) of each person, view the full results here.

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My Comment: Putting Phil Graham on the list is silly. There is no evidence he supported the lending practices that caused the crisis. There is also no evidence that his regulatory reform had anything to do with the crisis.

Most notables that are not on the list .... which is incredible considering their positions and the direct hand that they had in creating this mess are:

Barney Franks (Chairman of the Financial Services Committee) and Chris Dodd (Chairman of the Senate Committee on Rules and Administration). Also omitted is Andrew Cuomo (New York State Attorney General) who started the debacle by forcing banks to lead to people who could not afford loans.

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