Quote:
Originally Posted by blueash
Did you deduce the job description from some information source? If you dig down through the reports from the New York State Comptroller you will find that the persons included totaled nearly 170,000 employees of many kinds of firms. If you don't think Chase et al are not heavily into these activities you are naïve. They are sector 523 workers and you have that industry sector to thank for the packaging of subprime loans that crashed the economy.
Industries in the Securities, Commodity Contracts, and Other Financial Investments and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting securities issues and/or making markets for securities and commodities; (2) acting as agents (i.e., brokers) between buyers and sellers of securities and commodities; (3) providing securities and commodity exchange services; and (4) providing other services, such as managing portfolios of assets; providing investment advice; and trust, fiduciary, and custody services.
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The subprime loans that crashed the economy were the result of our know-it-all government that coerced, through regulation and quotas, all banks to make these risky, stupid loans to people who could never pay them back. And now, the government is pushing this same policy on the banks, again.