Replies

It was most definitely a planned attack on mortgage markets made possible by the repeal of Glass-Steagall in 1999.

One film has dramatized some of the elements of the attack but rendered it too hypertechnical for most to follow. The film was”The Big Short” adapted from Michael Lewis’s novel.

Other films will be made about it that describe the human devastation the attack caused.

Clinton signed the repeal of Glass-Steagall in 1999.

Former Republican US Senator Phil Graham was a main sponsor for the repeal of Glass-Steagall. He’s been hiding for years.

George W. Bush told the SEC and other government agencies to stand down from enforcement when they observed the massive fraud taking place.

Obama had people reach hundreds of billions of dollars in settlements with big banks caught in the fraud, he steered the settlement funds to cronies and never prosecuted one criminal banker. The settlement funds were to relieve homeowners and builders who were wronged in the financial crisis but the funds never provided any relief.

Trump’s plan to right the wrongs is still not in the open. But at least under his term, his DOJ did bring a criminal suit against the former CEO of Deutschebank, the first such prosecution ever of one of the big banks involved in the massive fraud described as “The Greatest Heist In US History”, totally trillions and trillions.