They (LA Times story) are blaming Schumer for helping cause the bank failure. Schumer helped cause bank failure
right..it was Schumer. Country Wide had nothing to do with it with their subprime loans and greed. Yea right, it was Schumer. Country Wide spun off IndyMac to hide their bad loans, yea, but it was Schumer who caused the failure. Worst Politician ever? Have you ever looked at the antics and politics of either of the Senators from Oklahoma, Ted Stevens from Alaska or Dole from North Carolina? Worst politician my ***.
Ridiculous, and I'm no fan of Schumer. The way financial information works is that if a balance sheet is crap, the people who know how to read them will figure it out very quickly. By the time somebody can speak informedly about it, the news has already been assimilated into the marketplace. Conversely, if a company has a strong balance sheet, nobody can talk it down, no matter how hard they try. Financial markets are very good at filtering out bias and focusing on the objective data.
