Subprime crisis explanation by The Long Johns

This is good ... as long as it doesn't make people smile and shrug -- and less angry.

Well,

It's June 28, 2009, and they are exactly right. They did this skit in October, 2007. "Could there be financial meltdown?"

Damn, when you're good, you're good!!!

I wouldn't worry about that image. It looks like the one on the left in some office type scene inadvertently put in.

Trust me, this is not some Edward Bernays secret "make them buy my product" technique discovered by the British.

There is a subliminal image at 7:18 mins... some old dude reading something... weird....

Looks like John Bird, one of the performers in the clip. Wouldn't worry about it.

"and this man is a banker?"
"No, he's a mortgage salesman."

The banks created a system where the decision makers were divorced from the results of their decisions. Mortgages simply became product to resell to a voracious market and they generated them any way they could.

Ronald Regan should NEVER have been allowed to remove the regulations created after the great depression that prevented this. But, Americans have incredibly short memories, and the results were rather inevitable.

Um, sorry!?
We shouldn't blame the banks because those people that should have been monitoring them weren't doing their jobs properly?

Isn't that like saying criminals are not at fault if police don't catch them?

How about: The banks should just behave in an ethical and moral way regardless of what laws govern them.

1) Stop passing the buck
2) Don't try tell me that these CEO's + upper management didn't know what was going on, nor the possible disasterous repercussions.

So you do agree with me! The banks did things that they should not have done. They did them because they were permitted to do so by the Central Banks (Treasury Departments). If the banking systems had been adequately regulated and MONITORED, we would not have this crisis now.

You're saying that the only reason why banks won't do something like this is because they'd be worried about being caught, not because what they did was morally reprehensible and just plain old bad, very bad, business.

"Why did you go out and shoot that family?", "Well, don't look at me, it was the police who didn't stop me in time. I mean, is it -my- fault they let me slaughter 6 people? No, -they- should have stopped me. Am I responsible for my own actions now?"

No. I am not saying that. What I am saying is that human nature being what it is, a certain percentage of people will act in a criminal fashion. This is why we need laws, to avoid anarchy. In order to ensure that laws are effective, they require monitoring and sanctions or penalties for contravening such laws. This is what has been seriously lacking (along with other things) and what has largely contributed to the credit crisis and banking mess we are now living in.