This past six months has been surreal, but the most surreal thing to me is that CNBC is full of angst over the "government taking over" various industries while there has been very little said (on the business and financial commentary) about the crimes that have been committed.Angelo Mozilo of Countrywide is being charged by the SEC with fraud for reporting mortgages as better than reality and also dumping personal stock while publicly stating that everything was wonderful. I realize malfeasance may be difficult to prove, but not impossible.
Obviously there was gross misrepresentation somewhere: mortgage lenders, ratings agencies, product salesmen. The wheels of justice move slowly, but move they must.
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