Quote:
Originally Posted by TheSquealer
What you refuse to accept is that the bulk of investors who invest in these types of securities also understood they were shit. It was one huge game of musical chairs where investors were trying to get in and get out before the music stopped. The entire securities market has been spiraling out of control for a long time now where ancient, outdated ideas like value, earnings and long term business strategy have been replaced by short term share/investment flipping.
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Yeah, all the middle class working stiffs who's pension funds and 401ks were invested in mortage-backed securities knew the risk. They were too busy working sixty hours a week to keep up their standard of living to know what the investment banks were doing with their money. Not only were the banks practicing predatory lending on these people, they were fucking them out of their retirement money on top of it. My neighborhood loanshark isn't as ruthless as some of these so-called legitimate financial institutions. There's a shitload of people affected by this that had nothing to do with it.