Community | February 22, 2009 | 2 comments

The Financial Crisis Explained in Simple Terms

source: http://groups.google.com/group/alt.fan.cecil-adams/browse_thread/thread/349f8228950744f8

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resolute
After reading this simple explanation, America needs to outlaw, derivatives, futures, swaps, options and anything else that remotely resembles them.
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    Markets,  Banks,  Financial Crisis,  Debt,  13 more
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2 comments // The Financial Crisis Explained in Simple Terms

  • mik661
    • 0
      mik661  

    • The best question I have had on the subject was when my teenage daughter asked me to explain where the money went. I explained to her that their never really was any money to begin with it was all just a lot of hot air and promises. Even Clinton admitted that he should have moved to more closely regulate derivitives. Keep in mind, no one forced any of these banks or funds to by these instruments. They just got greedy and bought into a giant scheme that they really didnt understand.

    • 3 years ago
  • resolute
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