That was your idea of anti capitalist venom? If the theives keep this crap up they will bury the rest of us capitalists with them.
Bank executives, like anyone else, need to be held accountable if they enrich themselves through fraudulent activity.
No way to say this politely, so...
Bullshit.
I don't have time to go into the details, but the banks did this to themselves, in five or six different ways.
A good site to start with would be www.minyanville.com.
Full Disclosure: The models used to define the tranches of risk were explicitly derived based upon the assumption of monotonically increasing property values and stable interest rates.
Cheers!
These idiots aren’t capitalists. They are thieves.
Ok , I drive my employers flatbed to a liquor store on the way home to my apartment after work. I have $20. and I take a case of Bud to the clerk. The clerk is making 12% on any purchase and a bonus of $50 on every case of liquor she sells. All she wants me to do is sign a note to pay the bill later and she will empty the store onto my truck. I am scared but she says don’t worry just sign it Donald Duck. So who robbed the liquor store that night?