Charles Ferguson INSIDE JOB
Charles Ferguson INSIDE JOB
Out of context: Reply #13
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- Amicus0
The big boys were all gambling, with a 99.9% certainty that if they lost the companies would be bailed out and they could walk away with fucking huge bonuses.
The real problem is that sub-prime mortgages were allowed, because gambling on sub-prime mortgages was a massive house of cards. With a lottery the more tickets you buy the greater the chance of winning. With this house of cards, though, every extra card (mortgage) brought the whole pile closer to collapse.
Lack of regulation in the financial markets is like decriminalising theft and leaving it all up to people's good will. You know sooner rather than later everyone is going to be putting their hands in every cookie jar and honeypot in town.