Money, Power and Wall Street

[Mr. Shaman]

I wish shows like this was on mainstream media.
The truth about the collapse is anti-political; meaning - both parties took active participation roles equally.

That's supposed to mean something????

Maybe YOU should take the time....

.....to WATCH IT!!!

* * *​

"Last night's documentary did a good job of explaining these destructive viruses without becoming an alienating technical schematic. It put a human face on the concepts, interviewing people who were tangentially or directly responsible for creating these risky entities, including Terri Duhon, who'd been one of the young J.P. Morgan wunderkinds who basically invented the credit derivatives idea while on some sort of corporate retreat in the '90s. She's now rueful and head-shaking about what her invention wrought, but like most people interviewed so far, she gently shifts the real weight of the blame elsewhere. (Most of the people interviewed always seem to have known in a vague sense that something was wrong, because they're not dumb you see, but also to not have known in any way that would have allowed them to do anything about it. Helpless bystanders all.)"

Young-"cowboy$" say "Oh, SHIT!!!"​

​

 

[iamwhatiseem]

BTW - AVG-Joe...it is a shame threads like this are often ignored.
I have made several like it, but like this one - few comments.
People don't want to read the truth, they want to read what they agree with.
And this fact - is also what contributed to 2008 - and the next one coming up.

 

[Mac1958]

.

In the big picture, the meltdown was cultural. Everyone just wanted what they could get, from politicians (both parties) to ratings agencies to Wall Streeters to mortgage companies to (hold on to your seat) American consumers. And no one gave a crap about the consequences.

And here's another problem that's cultural: All the finger-pointing at the other guy.

Any "solution" that doesn't address our culture is a band-aid, at best.

.

 

[iamwhatiseem]

.

In the big picture, the meltdown was cultural. Everyone just wanted what they could get, from politicians (both parties) to ratings agencies to Wall Streeters to mortgage companies to (hold on to your seat) American consumers. And no one gave a crap about the consequences.

And here's another problem that's cultural: All the finger-pointing at the other guy.

Any "solution" that doesn't address our culture is a band-aid, at best.

.

Here Here!
Damn Straight.
Something I tell people all the time - one of the most damning thing about today is that almost half the population is not old enough to remember what America was before 1980.
We have been conditioned.
Conditioned to accept that it now takes two incomes to make a decent living.
Conditioned to accept that housing has risen almost 10 times the pace of wages.
Pre-1980 a 4 year degree cost just about right at 30% of the average household income.
We don't think about how a doctor's office visit has risen 3 times the pace of wages.
Every year wages barely rise if at all....and so few...SO VERY FEW...get the connection between consumer buying choices and all of the above.
The high cost of a low price.

 

[AVG-JOE]

.

In the big picture, the meltdown was cultural. Everyone just wanted what they could get, from politicians (both parties) to ratings agencies to Wall Streeters to mortgage companies to (hold on to your seat) American consumers. And no one gave a crap about the consequences.

And here's another problem that's cultural: All the finger-pointing at the other guy.

Any "solution" that doesn't address our culture is a band-aid, at best.

.

What we need is an environment of fair and simple taxes, public budgets that are balanced by law, and a culture of transparency in all things politics.

Then we'll be free to build an economy our kids can drive to the stars.

Rocket Science.