It's All Schumer's Fault---Not

The second most dangerous place in the world is the space between NY Senator Charles Schumer and a TV camera....sums up this asshole; the guy who people say "caused" the failure of IndyBank. So it seems that everyone in the U.S. has been victimized by a local pol with a reputation for diarrheatic outbursts of the mouth. While I second the thought that Schumer is an asshole, consider these few facts about IndyBank of Pasadena: 100% of their assets invested in ARM's; repeated failures to disclose same to stockholders, depositors, and regulators; no possible way to avoid collapse if anything happened. The real fault for that failure lies with the regulators, particularly the Federal Reserve. Period, end of story........ The most serious side of all this is that the credit rating of the entire country is now at risk with foreigners who control one and a half trillion dollars of our debt. Atop all this is that everyone is waiting for the U.S. Government to bail out all these private entities who made stupid investments, these in addition to every credit flake in the country who can't pay their mortgages. Freddie and Fanny were never government entities but advertised themselves as such and the perception is that the U.S. Government has to bail them out too.