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The principal argument seems to be that the banks were too leveraged and that wall st. should have had more capital. This is true, but Washington created the moral hazard that made the firms comfortable with high leverage, knowing that whenever something went wrong the govt would bail them out. The arguments made by this man are misguided.
mason72518 10 months ago
Ramble Ramble Ramble.. No facts just rhetoric.. If what the banks did was wrong and greedy how come nobody is in jail? How about they were just following the rules? Bernie Madoff was greedy.. Inventing and inflating his numbers so he could swindle it away from people that had no clue.. Hmmmmm sounds like the federal government and the situation that we're in now.. I believe Barney Frank said everything was fine with Fannie, Freddy and AIG before WE gave them billion to stay in business.. hmmmm
johnnydrysider 1 year ago
@johnnydrysider sorry by Bernie Madoff had nothing at all to do with the financial collapse. He was a swindler, but had no impact on the crisis
xcokenpepsi484 1 month ago
lol really to the fuckers below.....you assholes must have some fukin cousins in wallstreet...how is HE A MORON WHEN HE IS SPEAKING THE TRUTH
pagola 1 year ago
I'm sorry did this guy predict the crisis?
bonfirejovi 1 year ago
@bonfirejovi people like you make me sick...r u from some rich piss ass family in new england...just because the man isnt famous you do not listen to what he says and think he is an idiot.....didnt see him on CNN so you ask if he predicted the crisis....learn to freakin listen
pagola 1 year ago
@bonfirejovi Barney Frank and the Fed didn't.. And they're are gonna fix it?!?!? 2nd largest financial crisis in history and the microphone was on them through it all. Several economists in the WORLD saw it coming.. But did the govt wanna hear what they had to say? NO! They stuck their head in sand and said that stuff like "that couldn't happen to the mighty USA".. I sold my house to a person that already lived in the neighborhood.. He wanted it for profit.. Now who's greedy?
johnnydrysider 1 year ago
sorry i was responding to the people that don't even know you.. It was meant for pagola
johnnydrysider 1 year ago
This guy is a moron!
AFRIKTODAY 2 years ago
@AFRIKTODAY yes he is
bonfirejovi 1 year ago