The U.S. economy lost an estimated $22 trillion from the financial crisis that began in 2007, and that crisis was caused by the actions of big banks.
They sold toxic trash in the form of bonds, swaps and derivatives; they lied about their earnings; they sold mortgages that they knew would default while taking out insurance policies betting that they would default – so they make their money no matter what.
These are criminal activities, and yet no one has been held accountable.
And if you think that accountability is coming, you’re dead wrong.
Ring of Fire’s Farron Cousins discusses this.
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