The Issue: Standard Chartered’s settlement of charges by NY’s Department of Financial Services.
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In his “Banks we can Trust,” Gov. Cuomo mentions the 2008 financial meltdown, but omits his own role in helping to create it (PostOpinon, Aug. 16).
As secretary of Housing and Urban Development from 1997 to 2001, Cuomo foisted countless tainted loans onto lenders Fannie Mae and Freddie Mac.
American taxpayers are still suffering the consequences.
What does Cuomo propose in his article — more of the same noxious recipe of government meddling in the markets?Bob Hunt
Hillsborough, NJ
I have a problem with Cuomo’s reference to a national and state security policy.
New York does not have a foreign policy, nor should it.
The state regulator should have made his debut targeting clear New York interests.
If there is a case to be made with regards to Iran, the federal government should have made it. Walter Kitchenman
Sarasota, Fla.
Hooray, the regulators found a cheater.
I applaud the fact that the Department of Financial Services found these guys playing footsie with the Iranians, but that should have been discovered by federal regulators, not local ones.
Also, Standard Chartered’s actions didn’t threaten a financial meltdown. What is causing the economy to shrink is the federal government’s forcing banks to loan money to people who can’t afford to pay it back. The vaunted Community Reinvestment Act is nothing more than a shakedown of banks that do business in urban areas.
The Obama administration’s doubling down on this will cause another financial meltdown. Charlie Honadel
Staten Island
Cuomo thinks the Albany crime family should regulate the banks.
Too bad famed bank robber Willie Sutton isn’t alive — he would be the perfect chairman.
I’m sure Assembly Speaker Sheldon Silver would take the job.
John Lacey
Southold