4 ms·
so is "those gosh darned greedy bankers caused everything" the accepted meme at this point?
by nazgulnarsil 16y ago
so is "those gosh darned greedy bankers caused everything" the accepted meme at this point?
- danssig 16y agoFrankly, yes. Do you realize that before CDOs were made Deutche bank and friends took precautions to make sure they wouldn't be classified as gambling? They knew the danger of what they were creating and sought to make sure it wouldn't be regulated.
- nazgulnarsil 16y agoand why would people let banks gamble with their money unless it was guaranteed by FDIC? government being "the lender of last resort" really just means that eventually risk will be socialized. Of course private industry seeks to avoid regulation when it can. This does not make one evil.