Robber Barons Not Done Reaming the Little Guy

“In a gilded ballroom at the Venetian, the revelers sipped cabernet, dined on surf and turf and crowed as the Blue Man Group put on a private show.”

“The occasion was, officially, the 5th annual conference of the American Securitization Forum, a celebration of the financial wizardry that supposedly turns risky mortgages and other loans into gilt-edged securities…”

“The four-day event at the Venetian drew more than 6,500 financial professionals from across the country. Many came in search of ways to ride out — or better yet, to profit from — the mortgage mess their industry helped to create.

“Wall Street banks played a crucial role in the mortgage crisis by buying home loans and bundling them into securities. Regulators are examining whether investment banks and mortgage lenders hid the risks of subprime debt from investors.”

{NYT – Creators of Credit Crisis Revel in Las Vegas}

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2 responses to “Robber Barons Not Done Reaming the Little Guy

  1. And this is why I’m skeptical about the world in general. or is it cynical? I’m know I’m right.

  2. I think it’s called cynepticism.

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