Saturday, January 16, 2010

BurningPlatform: Did foreigners cause America's financial crisis?

Let me get this straight, its not the fault of the people who came up with the toxic assets backed by fraudulent mortgage loans.  Nor is it the fault of the ones who wrote the fraudulent mortgage loans.  It isn't at all the fault of the ones who lied on their mortgage applications in order to obtain fraudulent mortgage loans.  It isn't the fault of the credit ratings agencies who knew (or ought to have known) that these instruments were unsafe and backed up by a series of fraudulent loans, and thus rated them low-risk.  

 BUT it IS the fault of the dirty foreign investors who were looking for a safe place to put their American dollars.  SHAME on those investors who by simply believing in the American system caused this mess.  Can't you see that it was your insatiable hunger for American assets that caused us to lie and cheat and steal? What choice did we have

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