Mike Castle’s Role in The “Sub-Prime” Mortgage Crisis
Mike Castle is supposed to be one of the grown-ups in Congress right? He is supposed to be “our best” …right? He is one of the smart guys on the important financial committees right? Castle is too smart to be caught off guard by something like this…right?
Then why did he have his thumb up his ass for ten years? And why does he now want to close the barn door ten years after all the horses have escaped?
But it’s cool. I know the rules. I know that Mike Castle will never be held accountable for anything he does or anything he fails to do while going around pretending to represent Delaware.
Should be “role,” not “roll.”
Gracias.
I wish I intended some witty pun and not some illiterate error.
I hope this ‘window of liability’ Arnie talks of is not a fancy phrase for “taxpayers who lived within their means are now going to bail out those who bought mortgages they couldn’t afford.”
Let us not forget Delaware’s contribution to the crisis by leading the way on the bankruptcy bill, which promoted more unwise lending to subprimes.
“taxpayers who lived within their means are now going to bail out those who bought mortgages they couldn’t afford.”
That attitude is why Republicans are going to lose big. I fervently hope the Republican nominee uses that line in the Presidential debates next fall. If we are lucky maybe we can get Mike Castle to repeat that line all around Delaware.
What legislation was voted on that allowed this?
As Master Krugman puts it, “The bottom line is that policy makers left the financial industry free to innovate — and what it did was to innovate itself, and the rest of us, into a big, nasty mess.”
The the bankruptcy bill is just part of the fetid so-called “pro- business” system put in place by Republicans starting with Reagan.
(Yes. I know Bill Clinton had a hand in as well.)