Too many words!
Well, to read at work anyway...
The credit crunch can be directly traced to wilful greed on the part of those who packaged very risky morgages into supposedly less risky bonds and credit derivatives and then sold them on to the gullible or negligent. There's a certain whiff of corruption in the air too as everyone along the financial chain either cooperated with the low risk rating of the packaged instruments or ignored them while peddling mortgages to people who couldn't afford them.
Posted By: BerlinCanary on June 2nd 2008 at 15:05:08
Message Thread
- This article is well worth a read (General Chat) - Old Git, Jun 2, 14:36:22
- got as far as this bit and gave up (General Chat) - blindasabat, Jun 2, 15:21:44
- Bravely bold Sir Robin rode forth from Camelot. (General Chat) - Arizona Bay, Jun 2, 15:24:22
- Brave Sir Robin ran away.... (General Chat) - Steve in Holland, Jun 2, 15:28:20
- Bravely bold Sir Robin rode forth from Camelot. (General Chat) - Arizona Bay, Jun 2, 15:24:22
- Too many words! (General Chat) - BerlinCanary, Jun 2, 15:05:08
- Do people still believe in that Capitalism thing then? (n/m) (General Chat) - shoddy, Jun 2, 15:02:47
- Capitalism is merely a step on the road to Communism. (n/m) (General Chat) - Steve in Holland, Jun 2, 15:06:15
- It is indeed. No surprise there though. Financial markets driven by greed shock. (n/m) (General Chat) - jafski, Jun 2, 14:52:59
- looked depressing so didn't bother (n/m) (General Chat) - Small, Jun 2, 14:48:02
- got halfway through and gave up (n/m) (General Chat) - Dave in France, Jun 2, 14:44:03
- Fuck that then (n/m) (General Chat) - Steve in Holland, Jun 2, 14:39:17
- got as far as this bit and gave up (General Chat) - blindasabat, Jun 2, 15:21:44
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