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I think the level of greed in this country changed. While we may have been greedy before, banks and other financial institutions thought that the profits from s
by brentr 18y ago
I think the level of greed in this country changed. While we may have been greedy before, banks and other financial institutions thought that the profits from structured products would never end. Sadly, not only has the market for these items run out, those that are still in the system almost brought it down.
Many people are excited about the government's recent announcements concerning their plan to take these products out of the public system, but my gut says that we still have more trouble coming. It may not specifically be another failure, but the events of the last year and a half (and specifically the last six months) have not fully run their full course through the markets, i.e., we will still see a recession.