The Irony, The Irony

Edmund Andrews, the New York Times Economics Reporter, is having his house foreclosed upon. Doesn't sound like a poor black family who was given a loan by a bank which was forced, at gunpoint, by ACORN and the federal government to loan money to low-income people, does it?

Here are some quotes from Edmund Andrews:

"If there is anybody who should have avoided the mortgage catastrophe, it is me. As an economics reporter for The New York Times, I have been the paper's chief eyes and ears on the Federal Reserve for the past six years. I watched Alan Greenspan and his successor, Ben S. Bernanke, at close range. I wrote several early-warning stories in 2004 about the spike in go-go mortgages. Before that, I had a hand in covering the Asian financial crisis of 1997, the Russia meltdown in 1998, and the dot-com collapse in 2000. I know a lot about the curveballs that the economy can throw at us."

"Take a cue from the bank or Wall Street firm that is now trying to foreclose on your house. Don't apologize. They knew what they were getting into far better than you did. They knew they were in a giant Ponzi scheme, and they certainly should have known it would lead to disaster. They knew the housing bubble was a mirage. They knew their loans were absurd. They knew the triple-A ratings were bogus. They knew, they knew, they knew. They deserve whatever losses come their way."