New Report follows the money trail behind deregulation-1/2

"Sold Out": New Report Follows Lobbying Money Trail Behind Deregulation that Helped Cause Financial Crisis

In a new report, Robert Weissman of Multinational Monitor points to twelve deregulatory steps that led to the financial meltdown. It also does an analysis of the amount of money Wall Street poured into Washington in campaign contributions and lobbying over the last ten years. Their answer? A staggering $5.1 billion over the past decade.

Category:

News & Politics

Tags:

• deregulation
• financial
• crisis
• wall
• street
• banks
• CIA
• democracy
• now

[sugarpuddin88]

The FED, acting as bartender, gives out free booze to the bankers

The banks in turn have created many fake instruments like derivatives

One quadrillion dollars is the sum of outstanding fake derivatives (fake money pledged by the wealthy banks to buy real things) 1,000,000,000,000,000 on the market, (e.g. a bank with only one real dollar can legally say it owns several billions of real dollars) The total combined assets of the world is only actually a very small fraction of that sum!

[maplespak]

I think the video isn't in synch with the audio.