It started in 2000 when Alan Greenspan led the charge to deregulate the derivatives market.
At that point the whole financial system became a gambling casino.
Most of Congress didn't understand it, and passed it anyway. Greenspan (who admitted later he was wrong) at that time was considered a financial God.
the garbage companies that screw people get driven out of business then new better companies take their place. i don't think its too complicated. but noooo you idiot liberals have to reward them for sucking. Can't even understand basic economics so you blame it on leverage.
Regulators not enforcing very basic regulation rules over mortgage loans is what really fueled the crisis. If the rules that existed would have been enforced by regulators the derivatives would have been fine. Regulatory agencies were way too laxed in their enfourcement.
No it started with garbage companies like bac and so on screwing their customers and just being a sucky company so they lost all of their customers and everyone sold their stocks and shorted the garbage. that is how the market is supposed to work you moron. the problem was that obama stepped in and stole money from the poor and gave it to the rich to reward them for screwing their customers. What he should have done is let the markets run like they are supposed too. Now there will be much worse problems with the economy and its all the liberals fault.
can you explain how exactly obama has "stole from the poor"? as it's fact that the poor do not pay taxes! after adding up their tax credits along with the standard deduction they usually get back all the taxes they paid and then some! especially if they have kids or utilize the savers tax credit! they can get way more money back than they paid in! so not sure what you're referring to care to elaborate?