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, Jun 2, 15:05:08