My take on the CFR
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Uploaded by RedWhiteBlueThunder on Oct 1, 2008
Music by Metallica.
First song: And Justice for All.
Second song: Orion.
It is my belief that the 'sour mortgages' are not the only reason that Wall Street is begging for a bailout.
There were a multitude of reasons for the current economic circumstances.
One of them I believe are due to all the leverage buyouts in the last 10 years, it sucked the liquidity out of the market.
Another are credit swaps and the 'mark to market' issues, yet another are derivatives.
On the legislative side I believe the Sarbanes Oxley act was instrumental in preventing accountablility. The S-O act was a response to the Enron scandal, the S-O act would have not prevented Enron from collapsing.
It was a total lack of oversight that caused Enron to collapse.
I am not trying to absolve the bad bets on bad mortgages, but it wasnt the only thing that caused this.
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I am glade I stumpbeld in too this video thinks for makeing it too bad he did get in but hey thats what happens when you get stuped mccain he dose sucks but thats just me... great video even if you dissagree with some of it...bye
spmandmtgr 3 years ago