Word: blame
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Dates: during 2000-2009
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...approving such loans without due diligence? And greater fault with the creators of the mortgage-based derivatives? Until 10 years ago, getting approved for a mortgage was a pretty good indication that you could afford to make the payments. So for the most part I really don't blame buyers--they were relying on a time-honored financial rule of thumb that mortgage lenders and their Wall Street backers had suddenly decided to throw out the window. I'd blame the lenders, the securitizers, the regulators and Congress first, and buyers probably last. Although I'd still blame...
...worst-case scenario, economic historians may find that all of Paulson's predictions come true, leaving the cost to the Federal Government far greater than the risky $700 billion investment in the private sector. If this comes to pass, the historians will find many people to blame: Paulson and President Bush for failing to explain the plan better. The House leadership for failing to whip enough votes. Even the presidential candidates for failing to use their bully pulpit to force the issue...
...perhaps it shouldn't have come as such a shock when the House of Representatives failed to pass the bill Monday afternoon, or that the rest of the day was spent in partisan fury and recriminations: Democrats blamed Republicans, Republicans blamed the Dems, the House blamed the Senate, the Senate blamed the House, John McCain blamed Barack Obama, Barack Obama blamed - well, you get the picture. Only one player remained relatively restrained in the aftermath of the defeat, which led to a 777-point free fall for the Dow Jones industrial average, the largest single point drop in history...
...surprisingly, given the market's quick negative response and the general atmosphere that pervades Washington, both sides were quick to point fingers. House Republicans charged to the microphones to blame Speaker Nancy Pelosi for the defeat, saying that at least a dozen of their members switched their votes because they were offended by the partisanship of a speech she gave on the House floor. Democrats scoffed at that excuse. "Think of this: Somebody hurt my feelings, so I am going to punish the country," said House Banking Committee chairman Barney Frank, a Massachusetts Democrat who had been...
...asking Congress 11 days ago for the authority to spend up to $700 billion to buy troubled assets, Paulson and Fed Chairman Ben Bernanke were hoping to share some of the responsibility and the blame - and get the freedom to boost companies that weren't already on the brink of failure. Instead, they're back to being crisis managers for the moment - and maybe for the duration of the crisis...