Joe in Winslow

Who are you, and what have you done with TYTT?

Why? You really need to ask why? Because the people who were sold the CDS instruments were sold a product that wasn't what was advertised. That's not right, and was a HUGE part of what caused multiple institutions to crash and burn which then required billions of taxpayer dollars to fix. What SHOULD have been allowed to happen is every single institution affected by the problem should have been allowed to fail without assistance. THAT would have been the free market at work.

Well for one thing, I'd have made it illegal to bundle sub-prime and sub-sub-prime mortgages into resale packages with solid ones. So, then I suppose the answer is to let the corruption continue unabated. Shame, that.

Problem is, mister "rule of law", did the laws change to prevent this kind of nonsense again?

Is it fair to say that the instruments created by the "wizards" were the very thing that enabled crooked mortgage brokers to continue to sell the bad mortgages well beyond any limit that they should have been?

^ justification of corruption.

Not to mention all those brilliant guys who created the financial instruments that allowed crap mortgages to be hidden among good ones in bundles. Did any one of them see the inside of a jail cell? The corruption in finance is ATROCIOUS, and because they have money they have an iron grip on politicians. As such, they walk around as free men today.

Oh how wonderful! And what happened to the people that brought that crisis about? What about all those smartest guys in the room that CAUSED the problem in the first place? Jack diddly. They were SAVED by taxpayers. There's a DIRECT equivalence between that crisis and this one.

Uh.

Dude. Yes.

I don't watch much soccer. But when I do, it's arsenal.

My dad.

Or unpaid speeding tickets plastered on bathroom walls.

I'd take him in the second round. That would, IMO, be a bargain.

I'm sure he's thrilled.