http://www.bloomberg.com/apps/news?pid=20601109&sid=afxCLBycUdbc&refer=exclusive
Even B B&T disagrees with Hank's plan
It serves no one else but the investment banks
Main street is dying from these blood suckers
And now the light of day is killing them
Let the system die!
He said the mortgage crisis was caused primarily by Freddie Mac and Fannie Mae. The government-chartered companies, which own or guarantee more than 40 percent of the $12 trillion of U.S. home loans, ``distorted normal market-risk mechanisms,'' and were abetted by a Federal Reserve that made the wrong decisions on interest rates, Allison wrote.
``The Treasury has a number of smart individuals, including Hank Paulson,'' Allison wrote. ``However, Treasury is totally dominated by Wall Street investment bankers. They do not have knowledge of the commercial banking industry
Treasury ``is totally dominated by Wall Street investment bankers'' and ``cannot be relied on to objectively assess'' the impact of government policy on the financial industry, Allison wrote in a Sept. 23 letter to Congress. The letter was verified by Bob Denham, a spokesman for BB&T, North Carolina's third- largest bank.
