Goldman's Conundrum For 2012 - WSJ.com
Statement: "all of them need to confess and repent. We are trying to expose Moody's and want people to know what happened and how were those shoddy mortgages given AAA ratings."
Response:
Since you imply confession and repentance is being sought outside of unions, liberals and the government, I'd suggest the religiously-toned objectives are misdirected.
As the above-alleged culprits believe the vagaries of the business cycle and the outcomes of wisdom, sagacity and hard work can be equalized and need to be, they are all responsible for raising the needed returns and salaries of those who can perform with the liberal regulatory and tax lodestones thrust upon them.
As such, it appears you are letting them off scot-free!
Anyone who bought a home or apartment in the maelstrom of the real estate bubble or the mortgages supporting the bubble should have rejected the 'process' design of liberal and socialist thinking for the more capitalist view of profit and return. The blatant question at the time was roughly "how can prices keep going up faster than incomes when there are no limits to supply?"
Similar questions have to be asked today in many areas. Many (most) aren't asking them.
Thus, one can't but suggest the tone of your blog must also be misdirected.
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