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Nationalize the banking industry - The guys who bought billions of dollars of

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JohnWxy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 01:44 PM
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Nationalize the banking industry - The guys who bought billions of dollars of
Collaterized Debt Obligations (mortgage backed securities) which they really didn't know how to value so they then bought Credit Default Swaps as default insurance. They risked hundreds of billions dollars on securities they didn't know the value of and now these same idiots won't make very short term loans (several weeks in duration) to healthy going businesses, with four A credit ratings, for working capital (e.g. so they can meet payrolls)!!

Shit, we would be better off without these guys in positions of management. I think we would be better off buying the banks and firing these idiots.


Hire those women who tried to warn Lehman bros. that these CDOs they were buying weren't worth buying and we're fired for it.

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