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In many cases, Wall Street was selling toxic investments to pension funds and other investors knowing full well the investments were worthless and mis-marketed.
by TuringNYC 11y ago
In many cases, Wall Street was selling toxic investments to pension funds and other investors knowing full well the investments were worthless and mis-marketed.
So yes, if Tesla sold a car full of explosives that was about to explode as soon as the passenger got in -- then indeed they should be prosecuted. Thankfully the technology industry typically does not act in such manner. Their "crime" is more over-enthusiasm and pushing the envelope of privacy violations.
See "Fabulous Fab": http://www.usatoday.com/story/money/business/2013/08/01/goldman-trader-fabrice-tourre-reaction/2609717/ http://www.usatoday.com/story/money/business/2013/08/01/gold...
See Goldman Synthetic CDOs: http://www.businessinsider.com/a-timeline-of-goldmans-abacus-trade-with-paulson-aca-ikb-and-2010-4 http://www.businessinsider.com/a-timeline-of-goldmans-abacus...