Its not stupidity, just greed. With the Commodities and Futures Modernazation Act passed by the War Shrub and Republican Congress Wall Street can make money off of anyone’s debt. As the Daily Reckoning puts it, “They’re not aiding the process of capital formation nor allocating capital in ways that will result in new jobs and new industries. Instead, they are refinancing old debts…and speculating on zombie assets. This will not increase the real wealth of the planet.”
Its not stupidity, just greed. With the Commodities and Futures Modernazation Act passed by the War Shrub and Republican Congress Wall Street can make money off of anyone’s debt. As the Daily Reckoning puts it, “They’re not aiding the process of capital formation nor allocating capital in ways that will result in new jobs and new industries. Instead, they are refinancing old debts…and speculating on zombie assets. This will not increase the real wealth of the planet.”