....in fairness, there is plenty of blame to go around and nobody - no stakeholder, no political party, no administration is immune from blame in this mess. It is systemic and there are material contributors in all sectors and all corners and all walks of life. The notion that this is a Wall Street problem and a Wall Street "bailout" is very shortsighted, naive and sheer nonsense. That said, CRA and the manner is which it was used to extort banking companies across this great land of ours by politicians, administrations and "community organizers/activists" has more than its fair share imho......you wouldn't believe the stories, so I won't even begin.
I think his assumptions are a wee bit optimistic....however, I wouldn't be surprised to see several of these government investments of late yield very positive cash returns to taxpayers in addition to restoring the confidence back to the capital markets which is the real payback here..... all else pales in comparison in my view....
Wouldn't it be nice if SOMEBODY...Congress, Treasury, SEC, Banks, Wall Street...ANYBODY would just admit to having a SMALL part in causing this... Just a small admission..."maybe it wasn't a good idea that I/we/our agency did this or that." Not gonna happen.