We now know that it was French finance minister Christine Lagarde who begged Mr Paulson to save the US insurer AIG last week. AIG had written $300 billion in credit protection for European banks, admitting that it was for “regulatory capital relief rather than risk mitigation”. In other words, it was underpinning a disguised extension of credit leverage. Its collapse would have set off a lending crunch across Europe as banking capital sank below water level.

Now, was that the Grey Lady? WaPo?

Uh, no, an article about European leaders backing down on “blame America”
Oops – not American Greed
for their own banking problems.

Sister Toldjah has a treasure trove of quotes from a few years ago from Democrats like Chris Dodd (D-BingeAndGrope) and Barney Frank (D-Idiot) about how there was no problem with Fannie Mae and Freddie Mac and how all those critics…