Being forced to do that, they did some very unsavory things with regard to packaging and re selling the mortgages on Wall Street. It was like OK government, if you make us do bad loans through your threats, we’ll figure out a way to “sub out” the risk."
FORCED!!! You mean they were FORCED to do this???
NO, they were NOT forced, they just made peace with the corrupt government. They CHOSE to go along to get along. They did nothing to stop the government. They chose to side with evil, with power being better than to be just. They CHOSE to do this instead of fighting it.
They were NOT forced, they had a choice, and they chose badly.
You make a valid point. I think the pressure was more than you choose to acknowledge, but I’ll agree that they chose to go along instead of fighting. I think it had more to do with fear at first for survival — and then when they figured out they could off load the risk through derivatives — then greed kicked in.
Having Jesse Jackson and Al Sharpton and the original founder of ACORN, before he founded ACORN, and other rabble rousers at your throats is hard on a business trying to simply do business. But I’ll concede they chose not to fight it hard enough.
Corporations tend to cower in the face of government pressure.