brendannyc commented on the blog post Deposition: Countrywide Never Sent Mortgage Notes to Trust; Mortgage-Backed Securities in Question
I think Bank Of America must go down. There is not hope for that successor to Countrywide but exactly the kind of morality-doesnt-count bailout that the Tea Party members were elected to stop (and that i wish our Dem President were at the forefront of fighting).
i not only think BoA cannot escape without exactly this kind of hold-your-nose bailout, i think there will be one or more criminal indictments eventually. I don’t want to imply that they are muggers and rapitst, but it is very hard to explain their recent history without believing that at some point in the chain of causality someone’s negligence reached the level of criminal negligence.
we’ll see. Worse crooks have escaped unscathed, but this situation looks pretty bad for them. (as seems only fitting).
commented on the blog post The Return of Unreality-Based Government
It seems to me that we are going to wind up with a much stronger high-speed rail program with these withdrawals or refusals. The major flaw in the program as announced was that it was obviously constructed to try to spread the goodies around, with two-for-a-nickel state capitals like Madison getting priority treatment for high speed runs to a major city just around the bend–mostly so the state legislators can get to a night club when they want to. I lived in Madison–twice–and loved it, but it is hardly a major economic driver or transportation hub like Chicago or NY–Boston, or LA, places where millions of Americans–and key American job centers–would be served by high speed rail.
So, if some of these silly places that never really felt a true need now drop out, it means more money for the places that are really committed to and really need this improved rail service.
I’m in favor of electing more and more conservative state governors. and i’m hoping that they continue to reject these trains and all the ‘bridges to nowhere’ type projects that have been diverting needed Federal capital–my tax dollars–from where it all might actually do some good–like all the states with liberal governors.