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by lmm 1309 days ago
Crime had very little relevance to 2008. I'm sure there was a certain amount of fraud going on, just as at every store there's a certain amount of "shrinkage", but the crisis was a good old-fashioned boom-and-bust cycle.
1 comments

I honestly cannot tell if you are joking/trolling or are just completely ignorant to the reality of what happened.
Right back at you. You're making a whole bunch of assertions which are, to say the least, not widely accepted, and unsupported by any evidence or logic.
Here: https://truthout.org/articles/the-indisputable-role-of-credi...

If you think this is not really happening, you are naive at best, complicit at worst.

That falls under "a certain amount of fraud going on". Yes, there were a lot of bogus AAA ratings going around. But everyone knew they were bogus - you don't get AAA paper that pays a 10% return. Any investment banker from the GFC era who tries to tell you they're a poor innocent rube who was taken advantage of by a dastardly ratings agency is having you on. The people buying the CDOs were sophisticated professionals who did their own analysis and bragged about how smart they were.