The most influential modern philosopher who uses empirical evidence for all of his claims!
2008 FINANCIAL CRISIS The reason no US bankers were thrown in jail is because the US government was forcing them to lend to unqualified minorities for the sake of vote-buying and political correctness. Prosecution would have revealed that The bailout was bribery for silence
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Yes, some of the lending was to minorities. Some of it was also to white trash. Then Bush deregulated and the bankers created financial WMDs called collateral debt obligations. So it was a bunch of things.
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As they use to call them, Ninja investors. No Income No jobs No assets
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Sign here
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2019 Epstein Pedo CRISIS The reason none of Epsteins associates were thrown in jail is because Has was operating a MOSSAD blackmail operation for the sake of controlling people in positions of power Prosecution would have revealed that This 'death' results in 'case closed'
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Bankers also made loans with no money down and questionable employment and credit history. They were making commissions on loans, with no accountability.
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They were forced to make those loans by the government. Why would a bank want to loan money to people they knew couldn’t pay them back?
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They sold them off because they knew they were bad. They didn’t want to make the loans in the first place.
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They defo did want to make the loans, to anyone that could sign their name. I heard a bank wrote to one guys dog offering a mortgage. Pocket commission, bundle the mortgages up, get AAA rating stamp (the biggest part of the fraud) and sell the risk.
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Some banks had "art departments" where they would sweeten the actual loan, or just make them up out of thin air. If they're being sliced, bundled and sold, who's going to know, really?
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The U.S. Government is STILL enforcing that CRA (Community Reinvestment Act)
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You can thank Slick Willy for this debacle. Same thing is now happening in College Loans. Ka-Boom!pic.twitter.com/yBfr7KkDSX
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That was a Clinton era policy which initially targeted the banks in Chicago, and actually threatened them!! This was touted as a way to equalize homeownership. Lend to minoritys even if they didn’t have a job
. Then the banks got in a mess so the taxpayers bailed them out! -
True but when mixed with a low interest rate Greenspan Put concoction you get a financial disaster
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This was a community organizing project in Chicago, led by ACORN while Obama was prominent there.
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