Sunday, July 13, 2008

Sen. Schumer... matter how much he wants to deny it, really screwed up by exacerbating the IndyMac bank failure.

Would the bank have failed anyway? Quite possibly as it was very poorly managed.

However, the fact that a U.S. Senator knowingly (after all, it would have taken a complete numbskull to not know what his letter would do) worsened a bank crisis by releasing a private letter is shameful.

In these tough economic times, Americans don't benefit from political games with the banking system. Mature adults in important leadership positions should generally avoid such churlish behavior.