TV News LIES

Monday, Aug 29th

Last update05:20:13 AM GMT

You are here News Economy Inside Job: how bankers caused the financial crisis

Inside Job: how bankers caused the financial crisis

E-mail Print PDF

In Inside Job, the name that keeps cropping up is Larry Summers, a friend of President Bill Clinton and more recently Barack Obama. Summers exemplifies the links between cheerleaders in academia, Wall Street, supine regulators and an ignorant Capitol Hill that Ferguson stresses were at the root of the problem. It helps that Summers looks like a mafia boss, but the difficulties in making the case against him are shown by the need to explain financial products like credit default swaps and how securitisation was used by banks to increase their borrowing.

Still, no matter how much it is explained, the general public is not going to understand. How does one go into battle yelling slogans about credit default swaps? The bankers know ignorance is their trump card. Maybe Inside Job will make us more savvy in time for the next crash.

More...


Most Recent Related Stories...


Macy's is closing another 100 stores

Macy's In a sign of how dramatically the retail shopping landscape is changing, Macy's is closing 100...

FBI arrests senior HSBC banker accused of rigging multibillion-dollar deal

HSBCA senior HSBC banker has been arrested by the FBI as he attempted to board a...

Microsoft to cut about 2,850 more jobs

MicrosoftMicrosoft's costly bet on Nokia will mean more job losses than previously expected.The software giant will...

Puerto Rico Defaults on Constitutionally Guaranteed Debt

Puerto Rico defaults The Puerto Rican government failed to pay almost half of $2 billion in bond payments due...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!