Ever since the beginning of the great recession i was verbally chastised for placing blame with the crowd soon to be coined vampire squids.
Slowly over the years the media has helped to defend the banksters in placing blame in the home owners and government institutions like Fannie and Freddie.
Not that I’m a fan of Freddie, Fannie & Homer Simpson, but it has always been the streets motto to sell anything and everything. The less the client knew in some cases was the better.
While it is important to do your homework; many investors and customers lend a fair amount of trust and faith to their financial adviser.
This article only justifies why RICO laws were broken with complicity.
True blame can only lie largely with one party while institutions like Fannie and Freddie were systematically used and exploited to repeat the process.
While some Homer Simpsons bot a little more than they could chew, some over did it in their investment portfolio’s, and some were downright idiotic in their purchases; for the most part we all know where the true blame lies.
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