Frank said ‘Roll the dice’ on banking deregulation

If some do not like your commentaries, rather than the never ending belly aching, they should not read it anymore. I have faith that the staff at A.M. Costa Rica are aware of freedom of the press.

May I quote a statement from our infamous Barney Frank in 1998 re: bank deregulation? “In order for underprivileged Americans to have affordable housing, we are going to have to roll the dice on this one.”

Predictably the unleashed banks went for the jugular and put millions of Americans who could not afford a house into a house, packed up these dud mortgages, rated them triple A, and sold them to every sucker possible worldwide. The Bush administration tried a number of times to bring back bank regulation, were denied and were cited as being racists.

Now this stupid idiot plan backfires, big banking makes trillions, millions of Americans and people worldwide get totally screwed, the idiots naturally blame W (as it was under his watch), millions of idiots listen and believe the unbelievable, and now we are bailing out failed big banking with trillions of our dollars. Our present administration has in fact inherited the crises — from 12 years ago.

I don’t watch Fox, Sean and Rush give me the willies, I vote both sides of the fence, so don’t give me this crap that I am a right winger. I am old school and believe in paper and pencil mathematics.

Edward Baecher
Fishkill, New York, and Palmares

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