The above quoted comment was made by Charles Ferguson, producer of "The Inside Job" which won the Oscar for Best Documentary at the 83rd annual event held last Sunday in Los Angeles. According to wikipedia the subject of the movie is the global financial crisis of 2008, which is now in its third year; (some communities such as Phoenix currently have about 70% of their homes under water, meaning the value of the residences has plummeted below their underlying mortgages.)
"It {the movie} features research and extensive interviews with financial insiders, politicians, journalists and academics...." The film goes on to explore how "the development of complex trading such as derivatives market allowed for large increases in risk taking that circumvented older regulations that were intended to control systemic risk."
How many of us do not remember Senator Carl Levin's harsh remarka to Daniel Sparks executive of Goldman Sach during hearings in April 2010?
"...600 million dollars of Timberwolf securities is what you sold. Before you sold them this is what your sales team were telling to each other. Look what your sales team were saying about Timberwolf : 'Boy that Timberwolf was one sh---y deal..' "" Does that bother you at all?"
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