THE #OCCUPY #FINANCE BOOK – CHAPTER 2: THE #BAILOUT-IT DIDN’T WORK, IT’S STILL GOING ON, AND IT’S MAKING THINGS WORSE // @TheRawrReport: bit.ly/1BrgWmb > Interview with Cathy O’Neil by Oriana P.: I think the answer is nobody gave a shit. Nobody actually gave a shit. They were just like, well the system is totally corrupt. I mean the insiders knew that, the insiders knew that it was a complete shit show with all the incredibly bad CDO’s and mortgage backed securities and they had no idea what was gonna happen but they knew that they had already made a lot of money and they really didn’t feel responsible. Each of them felt like they indented some small part and they weren’t really to blame. Everyone had somebody else to point to and most people pointed up but then the ironic thing was that the people at the very top, the Fed and The Treasury, were macro economists who didn’t actually know enough about the market to understand how bad it was. VIDEO: https://youtube/watch?v=Bbto-r8nuNI
Posted on: Mon, 05 Jan 2015 19:02:33 +0000