Scapegoats

When the subprime crisis hit the financial markets, we posted the idea that there would be a search for scapegoats (and miscreants).  Senator Schummer must be feeling some heat in his kitchen.  The Federal Reserve, Congress and many other government agencies are "up to their elbows" in this debacle.

He needs to hurry with his investigation.  He and the other rats need the misdirection.  And the fines he proposes can't be collected as these rating agencies are sued out of existence by investors that relied on their ratings.