Quote:
Originally Posted by Amputate Your Head
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So appropriate for this thread.
Has anyone else besides me noticed that since Reagan struck down bank regulations
in regards to selling securities and bonds, we have had record numbers of bank failures?
Does "mortgage backed securities" ring a bell?
If not then your fucking stupid. The home mortgage crisis anyone?
Those regs were put into place after the big 1929 crash that caused the great
depression.
Reagan "helped" the economy by allowing banks to "finance wealth" far in advance
with no regard to the possibility that people would/could not pay it in the future.
The future is here motherfuckers.
And you ain't getting paid.