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| [Oct 29, 2012, 10:49 am ET] - Share - Viewing Comments |
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| 53. |
Re: Morning Legal Briefs |
Oct 30, 2012, 16:07 |
Wowbagger_TIP |
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Beamer wrote on Oct 30, 2012, 15:51:
Mr. Tact wrote on Oct 30, 2012, 09:39:
Beamer wrote on Oct 30, 2012, 08:52:
Traders, not bankers. Investment bankers had nothing to do with this entire crisis. For some reason our media, and therefore population, seems to think investment bankers and traders are the same people doing the same thing. One is never in a position, really, to do any wrong-doing, the other can totally blow things up every single second. One works for clients, the other works for greed. I strongly disagree. The investment bankers were making a killing on selling the packaged mortgages. I've heard mortgage lenders testify how people from Wall Street called them looking for more and more loans to buy up so they could package them. It was greed on both ends. The mortgage lenders making the loans and selling them to the Wall Street guys, who turned around and packed them up and sold them.
Those were traders, not investment bankers. Picking at nits here really. Traders working for all the big investment banks, who were all up to their eyeballs in this business and had entire units dedicated to it. |
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