Sunday, September 9, 2012
One of the main culprits in the financial crisis the MEC is always talking about having inherited is . . . himself
By agitating, during his community-organizer days, against red-lining in the mortgage industry, the young MEC helped bring about the conditions that led to the sudden popping of the bubble in 2008.
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Do you have an answer for why similar burst bubbles occurred elsewhere on the globe and the meltdown was internationally felt? Let me guess, the markets weren't free enough?
ReplyDeleteThat's correct.
ReplyDeleteBut what about those financial WMDs such as derivatives and credit default swaps and Dark Pools?
ReplyDeleteRead more at http://www.scribd.com/doc/103507063/Dark-Pools-High-Speed-Traders-A-I-Bandits-and-the-Threat-to-the-Global-Financial-System
And what was at the core of those? Risky US mortgages.
ReplyDelete