Quote Originally Posted by SnSstealth
sorry for the doom and gloom, i had just watched the 60min. bit on how the top companies created this whole mess by offering securities on bad investments that they had no money to cover. but since its not called insurance its not regulated. 4 times the national debt 60-80 trillion dollars floating on mathematics and the govt(including the guy who asked for the 700 mill) didnt see this coming? all the while guys being paid 50 mill a year are gonna get bonus checks from us for letting, no making, this happen. disgusts me to where i cant even pay attn. normally.
This is not caused just by the people on Wall street, this is main street
America's fault in equal accordance. Why were people taking mortgages they knew they could not pay? Whey were people taking equity loans based on the value of their houses to buy things? Why were residential mortgage brokers given the green light to pool available finance in housing? Why were investment banks leveraging collateral @ 40:1?

The bigger question is, when will we have actual transparency in the credit markets?