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The head regulator was the former CEO of the largest offender in the financial meltdown. The two were the ones making the deal. Those few that passed it into la
by nickpsecurity 10y ago
The head regulator was the former CEO of the largest offender in the financial meltdown. The two were the ones making the deal. Those few that passed it into law were taking money from that company and the other offenders in form of campaign contributions. The result was a deal that only benefited the offenders while doing huge damage to their victims and many investors who placed bets on a market direction where they failed.
Textbook case of corruption. Probably one of the biggest and most obvious I've ever seen, too.