« Reply #1 on: September 02, 2011, 06:46:17 PM »
From Jazz @ HotAir...
As the article notes, this seems to be coming in response to the damage they did to Fannie and Freddie. Try to keep that in mind for just a moment longer.
Look, the fact that there were some completely odious financial instruments floating around out there is beyond question. It also goes without saying that the problem metastasized because such instruments require insurance and a strong credit rating to sell them, so companies like AIG were dragged into the whirlpool when the whole show began to go down the crapper. In that regard, one could argue that the entire system was not “too big to fail” but, in some ways, designed to fail. But doesn’t it seem curious that the same institutions which were deemed so critical to the national interest that the taxpayers would have to bail them out are now suitable pockets to pick in a law suit?
Returning to the previous point, we come to the exit question. Does anyone honestly think that Fannie and Freddie were somehow “innocent victims” in all of this?
Logged
"A strict observance of the written laws is doubtless one of the high duties of a good citizen, but it is not the highest. The laws of necessity, of self-preservation, of saving our country when in danger, are of higher obligation. To lose our country by a scrupulous adherence to written law, would be to lose the law itself, with life, liberty, property and all those who are enjoying them with us; thus absurdly sacrificing the end to the means."
- Thomas Jefferson
