60 Minutes: A Look at Wallstreet's Shadow Market P1

[susanbanks44]

Run time: 06:37 https://www.youtube.com/watch?v=-wFFCtx7UhI   Posted on YouTube: October 06, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: October 06, 2008 By DU Member: susanbanks44 Views on DU: 1363

 
Here is part 2:

http://www.youtube.com/watch?v=GT76vCHKzGM

[bjobotts]

1. Enriched themselves at the expense of the taxpayers bailing them out BUT

[bjobotts]

2. THEY EARNED MILLIONS doing this. Their holdings should be confiscated

[bjobotts]

3. They shopuld nto be allowed to keep the profits and bonuses and perks

[bjobotts]

4. While our taxes go up to pay for their ripping us off.Take their properties, bank accounts, yachts,

[bjobotts]

5. There is really only one party..."The Money Party" which the taxpayer is not a member of

[lisainmilo]

8. u nailed it!

That is what these last 8 years have been about, the rich getting richer and the middle class dissipating and the poor getting poorer. It has been about blood money (Iraq war). These last 8 years have been solely about GREED, without conscience. They have used our public school system to sell us the Bush Family, "no child left behind. CD program. They have entered our churches using religion to gain support of their agenda, using well intentioned people. The list goes on as high as the deficit and then some!

[bulloney]

6. "You cannot model human behavior by math."

That's the fallacy of the 'free market' ideology of deregulated markets. Eventually, greed takes over and all of these models and theories about how the markets are supposed to work go out the window.

[FourScore]

7. This just makes me sick. n/t

[knitter4democracy]

9. I just found out yesterday that my BIL was right in the thick of it.

He was a tax attorney in New York (he moved on last year when he saw everything going south), and he thinks he's personally responsible for about 10% of this mess. He was the one setting up some of Bear Stearns's mortgage backed securities. Wow. It's really disturbing on so many levels.

[yodermon]

10. so the "bailout" -- is it bailing out the financial "instruments" themselves or

the credit default swaps that "insured" them? or both?

[OakCliffDem]

11. Kick