Were Taxpayers Robbed in the B of A – GSE Settlement?
This is a very “heady” article, a lot of which I don’t claim to understand. And that appears to be the problem. Even though the media praised this settlement, I doubt very much that they have much, if any, understanding of it. This also applies to the general public and, most importantly of all, our elected representatives in Washington.
For those of you that have researched the housing crash of a few years back, you know that some of our elected officials, and the government in general, definitely had a hand in or turned their backs to a lot of impropriaties. Wall Street and Fortune 500 companies did what they do best, open their wallets to gain an advantage. Of course, it’s us, the taxpayers that have to live with the results most of which we will not comprehend for years to come, if ever.
As I said, most of this stuff is way beyond my understanding. And that is what scares me!
