It was all “based on interest” or “based on earnings” or “based on growth”.
Wholescale and reckless “counting your chickens before they were hatched...”
Wholescale and reckless “counting your chickens before they were hatched...”
No one works for a pittance on Wall St
Billions in bonuses were doled out to create these derivatives and CDS and the people that made them and traded them knew they might well turn to junk....and they did. And the taxpayers are the last man left holding the bag in this Ponzi scheme
So billions in bonuses were handed out to make investment vehicles that failed with months or a few years