Over the past year and a half there has been one message coming out of Wall Street regarding the economic collapse, "No one could have seen this coming." It was a freak accident, a curse from God if you will. Investment banks and hedge funds caused the collapse, admitted their own incompetence, and are now reaping the benefits of it. Bank executives made fortunes, hedge fund managers can now retire in their 30's, and investment banks are allowed to continue unsafe and unscrupulous practices. Therefore, if they were the main beneficiaries of the actions leading up to the economic downturn, yet had no idea what they were doing, there can only be one explanation. Either they are in inept beyond measure or their nefariousness knows no bounds.
In a new podcast put out by This American Life called "Inside Job," questions of knowledge and motives are raised and shocking insight is uncovered, revealing the truth behind the role of Wall Street in our current economic downfall.
Click on the link, listen to the story (choose 'stream episode'), and ask yourself, "why isn't more being done?"
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