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Sub prime loans are the only thing out of that list where the public was scammed. Everything else you listed are internal banking things.
by jevgeni 6y ago
Sub prime loans are the only thing out of that list where the public was scammed. Everything else you listed are internal banking things.
- drapred7 6y agoThe public absolutlely paid the price in the form of bailouts. If those banks had been allowed to fail I would agree with you, but they knew they'd probably be bailed out from the beginning and used CDOs to ensure it. QE is a direct transfer of wealth from dollar holders to investors and banks. No way around that.
- closeparen 6y agoThe bailouts were loans and equity stakes which got paid back, not grants.
- drapred7 6y agohttps://en.m.wikipedia.org/wiki/Martingale_(betting_system) https://en.m.wikipedia.org/wiki/Martingale_(betting_system) Gambling with unlimited amounts of other people's money is going to be profitable. https://www.rollingstone.com/politics/politics-features/2008-financial-bailout-809731/ https://www.rollingstone.com/politics/politics-features/2008...