Bird and Fortune - Subprime Crisis

John Bird and John Fortune (the Long Johns) brilliantly, and accurately, describing the mindset of the investment banking community in this satirical interview.

Category:

Comedy

Tags:

• bird
• bremner
• fortune
• subprime
• crisis
• bear
• sterns
• High-Grade
• Structured
• Credit
• Strategies
• Enhanced
• Leverage
• Fund

[IamNotaThreat]

The subprime mortgage crisis is considered one of the greatest transfers of wealth in history. The people who had their homes foreclosed also lost their initial down payments, which ended up going into the pockets of the bankers. The "have nots" continue to become poorer while the elites continue to profit off the working man's burden.

[IamNotaThreat]

@Serrokot I wouldn't necessarily say it's the stock market, but rather capitalism seeded with corruption and greed.

[DonBobyTV]

@nkroti10

Furthermore, the unemployment rate for Blacks in Alabama is above the national average by 7.1 percentage points.

(epi.org)

[DonBobyTV]

@nkroti10 The Racial Component of Unemployment in Alabama:

We are particularly concerned by some trends highlighted by EPI’s statistics – growing

unemployment rates with a disproportionate effect on Alabama’s African American

population. During the current recession, the unemployment rate for Black Alabamians has increased from 5.3 percent to 15.1 percent, which is 9.3 percentage points higher than the rate for White Alabamians. (via epi.org)

[DonBobyTV]

@nkroti10 "An African American is three times as likely as a white person to be unemployed in Louisiana – and more than twice as likely in Alabama, New York, Mississippi, and Texas." (via epi.org)

[DonBobyTV]

@nkroti10 "While high unemployment is affecting all sectors of the population in this tough economy, African-Americans are by far the hardest-hit demographic. Nationally, black unemployment reached 16.7 percent last month — the highest level since 1984 — even as the jobless rate for whites fell to 8 percent, according to the U.S. Labor Department." (via nj.com)

[BLUESKYBLUE1990]

FUC-K AMERICAN SYSTEM AND AMERICAN RATING AGENCS (RICH GROUPS)

[VigenToT]

i'd buy anything with enhanced :)

better than to say "unemployed black man in the street" fund, is't it ...

could't have said better ! ! !

[VigenToT]

still vital and on the table

[MrWilliePost]

Learning laughing!



[m1leswilliams]

@BigEarthBooks It is actually because he is playing a stupid narrow minded white banker. It is the kind of thing one of those idiots would say.