|
|
|
|
|
|
by rawgabbit
1191 days ago
|
|
|
No. 2008 was Wall Street convincing folks to hand over cash for magical beans called mortgage backed securities. When that bad trip caused companies like AIG to vomit cash, the US govt bailed them out because they weren’t the only ones who bought magical bean securities. The entire US financial system was facing collapse. You can Wall Street a fool. But they got bailed out; private investors got squat. Who is the fool? Private profits and public bailouts is modern US capitalism. In the meantime, some will jump up and down swearing bailing out student loan borrowers is murder. |
|
|