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Only problem is that most politicians will tell you that their money is in a blind "trust". The real issue is deregulation of banking and the incentivization o
by jfalcon 4y ago
Only problem is that most politicians will tell you that their money is in a blind "trust". The real issue is deregulation of banking and the incentivization of how debt was repackaged into new "investment" vehicles along with the reality that credit/financial risk assessment never became institutionalized.
Remember, all the sub-prime mortgages were given high marks in being safe risks once they were packaged vehicles of debt because banks could bully their way into giving them assessments that were less than factual due to business pressures put upon them from the competition.
The real current crime is that all the debt from 2008 never was written off in any way. This in turn has had a cascading effect on the economy globally.