Left-Wingers Who Caused Subprime Meltdown Have Yet To Face Justice


The left-wing architects of the subprime mortgage collapse have yet to be called to account.

Much has already been written about the possibly criminal conduct of Sen. Chris Dodd (D-Conn.) and Rep. Barney Frank (D-Mass.), who relentlessly gamed the political system to clear the way for their cronies at government-sponsored Fannie Mae and Freddie Mac to make billions at the expense of taxpayers, but very little has been written about the role that their liberal friends and allies in the private and nonprofit sectors played in bringing the U.S. economy to its knees.

Funded by huckster John Paulson and predatory lending kingpins Herb & Marion Sandler (who also gave generously to ACORN through the years), the inappropriately named Center for Responsible Lending (CRL) laid the foundation for the current financial crisis. (The photo above shows actors portraying the Sandlers in a “Saturday Night Live” skit soon after the market crashed in fall 2008.)

The media seems barely to have noticed that CRL’s puppet, Eric Stein, is now leading the Obama administration’s push to Sovietize the American banking system. Stein, who is now the U.S. Treasury’s deputy secretary for consumer protection, was previously a vice president at CRL.

The left-wing architects of the subprime mortgage collapse have yet to be called to account.

Much has already been written about the possibly criminal conduct of Sen. Chris Dodd (D-Conn.) and Rep. Barney Frank (D-Mass.), who relentlessly gamed the political system to clear the way for their friends at government-sponsored Fannie Mae and Freddie Mac to make billions at the expense of taxpayers, but very little has been written about the role that their liberal friends and allies in the private and nonprofit sectors played in bringing the U.S. economy to its knees.

Funded by huckster John Paulson and predatory lending kingpins Herb & Marion Sandler (who also gave generously to ACORN through the years), the inappropriately named Center for Responsible Lending (CRL) laid the foundation for the current financial crisis.

The media seems barely to have noticed that CRL’s puppet, Eric Stein, is now leading the Obama administration’s push to Sovietize the American banking system. Stein, who is now the U.S. Treasury’s deputy secretary for consumer protection, was previously a vice president at CRL.