Needlenose

So you thought the bogus mortgage derivative/housing bubble burst was all the fault of venal Repug politicians killing Glass-Steagall combined with greedy Wall Street Bankers creating and selling worthless derivatives without any oversight from the Shrubya misAdministration?  Well think again!  According to financial services consultant Edward Pinto, it’s all ACORN’s fault!  Shame the Repug College student didn’t prank ‘em a few years ago by walking into the ACORN office with some repacked subprime loan-based derivatives to sell….

In case you are interested, based on his campaign contributions and clientele, Edward Pinto looks like an active Repug, and though I think his ACORN assertions are laughable, he did provide Congress with some pretty good advice on fixing the lending side of the equation.

Now that the dust has settled over the bad financial waves that Emperor Shrubya vainly tried to whip back (at least until after the election), more information is now filtering out about the architects of the junk mortgage disaster – starting with the Freddie Mac’s “enablers.”

As you might presume, Freddie’s ‘bad government’ partners include some of the usual suspects, like Newt Gingrich, who pulled in $300,000 to lobby his good buddies in Congress and the misAdministration about “the benefits of the Freddie Mac business model” – i.e. against moves to break up Freddie Mac’s business and spread it among other companies such as commercial banks.

But the Grinchster wasn’t alone – here is the current Repug list of shameful enablers:

•Sen. Alfonse D’Amato of New York, at Park Strategies, $240,000
•Rep. Vin Weber of Minnesota, at Clark and Weinstock, $360,297
•Rep. Susan Molinari of New York, at Washington Group, $300,062
•Susan Hirschmann at Williams and Jensen, former chief of staff to House Majority Leader Tom DeLay, R-Sugar Land, $240,790
•Viet Dinh, $300K

Just don’t expect any of these ‘Grinches’ to return any of the misbegotten dough.