Americans vent their fury toward bankers, bonuses and bailouts
Posted by: admin in Industry NewsFiled under: Industry, Consumer experience, Politics, Financial Crisis
A Bloomberg National Poll’s findings showed anger and rage on the part of Americans toward bankers, bonuses and bailouts.
Something went terribly wrong last year. A handful of bankers leveraged their banks to the brink of collapse. They used complex derivatives that created investments, which were then sold to investors. Many of the bets that traders put were based on a false knowledge of the housing market. When the housing bubble burst, Wall Street was caught with its pants down. The fancy derivatives collapsed, bringing the banks to their knees. They cried to the government to help them. The government gave them billions to get them back on their feet.
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Americans vent their fury toward bankers, bonuses and bailouts originally appeared on BloggingStocks on Fri, 11 Dec 2009 12:40:00 EST. Please see our terms for use of feeds.
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