Political Bubbles

Political Bubbles

Financial Crises and the Failure of American Democracy

Book - 2013
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Publisher: Princeton : Princeton University Press, [2013]
ISBN: 9780691145013
0691145016
Characteristics: x, 356 pages : illustrations ; 24 cm
Additional Contributors: Rosenthal, Howard 1939-
Poole, Keith T.

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StarGladiator
Aug 30, 2013

"..real estate-generated financial bubble and the 2008 financial crisis.." There was no "real-estate generated financial bubble" but there was an incredible scam of epic proportions, involving the sale of trillions to hundreds of trillions of dollars of credit derivatives based upon a mere billions of loans, and the residential mortgage loans were but a drop in the bucket among ALL the loans (corporate, commercial, et cetera) out there and involved. Next, the sold unregulated insurance (credit default swaps) to the tune of trillions of dollars with hundreds of trillions of dollars in potential payouts - - which was why interbank loans froze up, and the meltdown ensued. Which is also why the top banksters have junk paper, or credit derivatives, they claim is valuable, but everyone knows is worthless - - arithmetically speaking of course (but one must comprehend arithmetic!). [Just Google "vice.com" and also "Larry Summers memo" and the article by Greg Palast will fully explain the criminal conspiracy over the preceding 20 years!]

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