Quote:
Originally Posted by Rochard
But targeting Wall Street is both vague and misleading. Wall Street itself did not cause this crisis, nor did the majority of the companies trading on Wall Street. GM, for example, had nothing to do with the crash of the housing market.
It's not Wall Street or the rich who caused this. It was the average homeowner. Anyone who bought a house and then sold it three years later for twice the original sale price is guilty. It's not the bank's fault - it was win win for them and yes, they made a profit. It was the greedy fucking homeowner - myself included - who caused this.
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Actually wall st did my friend. They were betting against mortgages and gave spiffs to mortgages brokers to write as many mortgages as possible. They also put pressure on companies to keep wages as low as possible ie off shoring. I read a article about costco, they pay well ,their people stay longer and make them more money per employee than say sam's club who pays shit. They spoke about how they fought pressure from wall st to lower their wages to the norms of the industry.