Put these pompous stuffed shirts in jail and make them disgorge the profits, pay fines and work in another industry–although not in insurance. How about fast food?
The real question is how they (Wall Street) convinced (tricked/bribed) the rating bureaus to grade the prefered tranches of the subprime market on par with US Federal treasury bonds.
Boy I hope they don’t bail out wall street. They’re the ones that suckered investors into buying those sub-prime loans by getting them rated so high.
New York City capitalism equates to who can sell the snake oil at the highest price
Put these pompous stuffed shirts in jail and make them disgorge the profits, pay fines and work in another industry–although not in insurance. How about fast food?
agreed!
The real question is how they (Wall Street) convinced (tricked/bribed) the rating bureaus to grade the prefered tranches of the subprime market on par with US Federal treasury bonds.
Boy I hope they don’t bail out wall street. They’re the ones that suckered investors into buying those sub-prime loans by getting them rated so high.
New York City capitalism equates to who can sell the snake oil at the highest price