Lies, and the lying liars...
As I watched Mitt Romney in the Presidential debate I was reminded of a financial tactic the candidate's political supporters and financial backers on Wall Street used during the mortgage boom--the one that netted them billions of dollars while simultaneously wrecking the American economy.
I'm talking about the liar loan, a line of credit based on lies without a shred of proof--the practice that wrecked the U.S. economy. This time around, though, the Governor was lying not to score some jumbo re-fi deal, but to gain access to the U.S. Treasury. He would allow the nation's wealthiest Goldman Sachs-types to resume the looting of America that came to a screeching halt (or at least slowed dramatically) when President Obama took office. What Bush and his henchmen started, Romney would gladly finish.
I'm talking about the liar loan, a line of credit based on lies without a shred of proof--the practice that wrecked the U.S. economy. This time around, though, the Governor was lying not to score some jumbo re-fi deal, but to gain access to the U.S. Treasury. He would allow the nation's wealthiest Goldman Sachs-types to resume the looting of America that came to a screeching halt (or at least slowed dramatically) when President Obama took office. What Bush and his henchmen started, Romney would gladly finish.
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