Busted: Bankers and The Global Economy

February 21, 2008

Wild West Banking

Filed under: banking, government, investment, money — Tags: , , , , , , , , , , — digitaleconomy @ 11:20 am

The “sub-prime” and “Alt-A” mortgage crisis has its roots in an escalating real estate market along with wild speculation and the intense desire for profits at any cost. If you are not clear on the speculative bonanza that brought about the mortgage and banking crisis, I invite you to review this short video which covers Countrywide, the Northern Rock Banking Debacle and some of the speculations in banking. The failures rank from the bankers to the bond rating agencies to the money-lust of the investors. The bonds were seen as a “low risk” deal. Nobody scrutinized the bond rating agencies or how the banking packages were assembled. As seen over and over lately, the conflict of interest has been huge. In general, bank regulators have been clueless regarding the reality of the new internal banking instruments designed by the bankers to make a fast buck.

Observations and Commentary by Elvis Manning

The Credit Crunch and World Banking

Make Bankers Pay?

The Fed and the Subprime Mortgage Debacle

The Great American Mortgage Scam

 

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