General Discussion
In reply to the discussion: You know the 1% are ripping us off to an astonishing extent, right? [View all]nenagh
(1,925 posts)'The company (ies?) that sold the derivatives did not have to count it as a liability.'
which is nearly unfathomable info..
It seems the investment banks(s) were protected from their losses on derivatives (and possibly other artificial financial products)
and Main Street investors lost everything or a high % of their investments after the crash..
I don't know whether that protection was as a result of loosening banking laws and regulations pre 2008 or how the bank bailouts were constructed.. but you make me understand that the end result is that the investment banks kept the bailout $$ as profit..
while DUers and Main Street lost everything...or a high % of their investments and the whole home mortgage losses and bank robosigner phenomenon .. sickening.
Thanks again...