Back to reality. If this one wasn’t so infuriating it’d be funny. Simpatico news ran an interesting article on the seven deadly sins that led to the recent stock market crash and current financial crisis: http://finance.sympatico.msn.ca/investing/stocks/article.aspx?cp-documentid=15853320
Well check out the Mortgage Sluts section under the heading Lust. Remember what triggered this whole financial crisis? Buying stock on margin yes, just like in the twenties but the collapse was caused in relation to the mortgage crisis in the States. Too much deregulation saw the epitome of corruption rise and fall.
Mortgage wholesalers traded sex for loan applications. I kid you not. This wasn’t just one or two cases, it was a trend:
So there we have it. The financial crisis was created by greed which resulted in buying high risk stock on margin and corporate pigs who traded sex for bad loans. Why did we bail that out: http://themortgageinsider.net/mortgage-news/bush-speech-creating-phantom-crisis-to-dupe-congress-again
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