Thursday, December 16, 2010

FCIC Blue, & Red

"The truth is unsparingly ugly:
That mortgage-backed bonds became bubbly,
Thanks to Wall Street's big guys
Who would securitize
The same mortgages triply or doubly."   

"The real estate market was screamin' out:
'We must cast the government demon out!
We'd have steadily grown
If they'd left us alone,
Except when they didn't bail Lehman out.'"

New York Times reporter Heidi Moore writes in DealBook that Democrats and Republicans on the Financial Crisis Inquiry Commission (FCIC) have drawn entirely different lessons from the financial crisis.  Like the characters in the classic Japanese film Rashomon, they witnessed the same crime but tell conflicting tales.  

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