As I have replied to you before, there was nothing in Glass Steagall that would have prevented banks from bundling shitty sub-prime mortgages and selling them as securities. Nor prevented investment brokers and investment bankers from buying them. Nor prevented insurance companies that went far beyond their capital adequacy from insuring…
As I have replied to you before, there was nothing in Glass Steagall that would have prevented banks from bundling shitty sub-prime mortgages and selling them as securities. Nor prevented investment brokers and investment bankers from buying them. Nor prevented insurance companies that went far beyond their capital adequacy from insuring them. Nor for corrupt rating agencies from assigning spuriously good investment grades as a way to curry favor with investment bankers.
This is a complicated subject and someone who doesn’t understand would not bother me. Except you sort of pretend you do, and get a snotty attitude when you’re challenged.
Thanks for your explanation. I go for the simple idea that there will always be people who are looking for holes, ways to make money, regardless of it being at the expense of others. There are not enough laws, and will never be, to cover the cleverness cum corruption/ill will of people who are so disposed. We have great example of that in the White House.
As I have replied to you before, there was nothing in Glass Steagall that would have prevented banks from bundling shitty sub-prime mortgages and selling them as securities. Nor prevented investment brokers and investment bankers from buying them. Nor prevented insurance companies that went far beyond their capital adequacy from insuring them. Nor for corrupt rating agencies from assigning spuriously good investment grades as a way to curry favor with investment bankers.
This is a complicated subject and someone who doesn’t understand would not bother me. Except you sort of pretend you do, and get a snotty attitude when you’re challenged.
Feel free to tell your several friends.
Thanks for your explanation. I go for the simple idea that there will always be people who are looking for holes, ways to make money, regardless of it being at the expense of others. There are not enough laws, and will never be, to cover the cleverness cum corruption/ill will of people who are so disposed. We have great example of that in the White House.