It’s pure unadulterated demagoguery but it’s still a hell of speech!
With all due respect Congressman Wall Street didn’t cause this problem… They played their part but it was Congress and government regulators who, in the name of affordable housing, compelled banks to write these risky sub-prime loans. It was Congress who created Fannie Mae and Freddie Mac and let them run wild buying up and securitizing billions in bad mortgages. It was Congress who ignored warnings resisted attempts to rein in Fannie and Freddie.
Bottom Line Congressman, this was a preventable crisis… If you’re going to point fingers start by pointing them at yourselves… Yes, greed and mismanagement on Wall Street undoubtedly played a part but that doesn’t absolve Congress and government regulators!