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Valero Energy Corporation Message Board

  • idpatton01 idpatton01 Feb 12, 2014 12:39 PM Flag

    I will leave you with some thoughts and questions today

    We fell victim to Wall Street's exotic financial products. School districts were taken in by "innovative" products like collateralized debt obligations, better known as CDOs, and they sucked trillions of dollars from the global economy when they failed.
    As the country teeters on the brink of what could be the next Great Depression, we should be especially wary of the so-called financial experts who got us here, and then conveniently got themselves out.
    He also asks some tough questions:
    •Why did Americans let the gap between workers' wages and executive compensation grow so large?
    •Why did we fail to realize that the excess money in those executives' pockets was fueling casino-style investment schemes?
    •Why did we buy the notion that too-good-to-be-true financial products that no one could even understand would somehow form the backbone of America's new, postindustrial economy?
    •How do we make sure we never give our wages away to gamblers again?
    •And what can we do to get our money back?
    How could the best and brightest (and most highly paid) in finance crash the global economy and then get us to bail them out as well? What caused this mess in the first place? Housing? Greed? Dumb politicians? What can Main Street do about it?
    I know what needs to be done, it is not hard to figure out

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