3 ms·
A person or group working there benefited from it, which is enough for it to happen. 2008 was that at an endemic scale.
by blatantly 2y ago
A person or group working there benefited from it, which is enough for it to happen.
2008 was that at an endemic scale.
- rchaud 2y agoNothing to do with 2008. JP Morgan and the other banks made fees by selling mortgage-backed securities where the real credit risk was obscured by packaging good mortgages with bad. JP Morgan spending $175m for hot air isn't something they can spin into gold.