did you see the movie "Inside Job"? about the 2008 banking crisis?
what you think about it? Just another reason why i do not vote in federal elections. Local elections can make a difference and everyone should get involved in all elections.
The crooks that caused it got posted to governmental agencies. Insane! EVERY SINGLE AMERICAN MUST SEE THAT MOVIE. what are DERIVATIVES? unregulated bets against stocks failing
Wow, sarah palin answered my question! that made my day. ..................ha ha
Edgar: how you know i love Kool aid? are you in the NSA? ha ha
- Spock (rhp)Lv 76 years agoFavorite Answer
the movie was a whitewash of the role the federal government played in the whole mess.
FHA, FNMA, et al practically invented the subprime mortgage market. they started the securitization scheme to get more money to make more junk loans.
and the banking regulators, instead of objecting to low lending standards and likely future losses because of them rolled over and gave up their proper role.
then, when the banks were reeling from the damage caused, the government leaned of the financial accounting standards board to change the accounting rules so that the banking industry was declared dead [which would have required a MUCH more massive government bailout].
the whole thing was brought to you by your "friends" in Washington.Source(s): grampa
- Anonymous6 years ago
Madoff, Skilling, and Ebbers are still behind bars for their Clinton era frauds that got busted on Bush's watch.
NOBODY is behind bars for the meltdown of 2008, even 5 years into Obama's watch.
BECAUSE THEY PUT OBAMA IN OFFICE
DEMOCRATS SUPPORT RAMPANT FINANCIAL FRAUD FOR POLITICAL PURPOSES
- EdWinterLv 76 years ago
If you're buying the whole derivatives-are-evil thang, then I suggest that you lay off the Kool-Aid before it further rots your brain. Just saying, hon.
- 6 years ago
no but I will look into it