OCCUPY WALL STREET

atomiczombie · 11-21-2011, 01:24 AM

A huge part of the financial crisis of 2008 was an out of control derivatives market. Derivatives are basically bets that corporations make on whether the markets will go up or down. It's WAY more complicated than that, but that's the best I can do in one sentence. In the late 90's a financial regulator in the Clinton administration tried to impose regulations on over the counter derivatives, and here's what happened:

The scary fact is that the Dodd-Frank bill didn't include any regulation of the derivatives market. So basically, there is nothing in place to prevent the financial collapse of 2008 from happening again just as easily. Gah!

11-21-2011, 01:24 AM	#1
atomiczombie Member How Do You Identify?: Femmesensual Transguy Preferred Pronoun?: He, Him, His Relationship Status: Dating Join Date: Nov 2009 Location: Rio Vista, CA Posts: 1,225 My Photo Gallery Thanks: 3,949 Thanked 3,220 Times in 759 Posts Rep Power: 21474853	Back to the subject of corporate greed.... A huge part of the financial crisis of 2008 was an out of control derivatives market. Derivatives are basically bets that corporations make on whether the markets will go up or down. It's WAY more complicated than that, but that's the best I can do in one sentence. In the late 90's a financial regulator in the Clinton administration tried to impose regulations on over the counter derivatives, and here's what happened: The scary fact is that the Dodd-Frank bill didn't include any regulation of the derivatives market. So basically, there is nothing in place to prevent the financial collapse of 2008 from happening again just as easily. Gah! __________________ http://i277.photobucket.com/albums/k...orums_2000.gif Russian Unicorn http://occupiedmedia.us/