Everything That is Wrong With Wall Street

Banks give individuals home loans they can’t afford, the housing bubble spreads across the country, banks pools poor performing home loans into collateralize debt obligations to rate them as sound investments, local governments invest hundreds of millions into these collateralize debt obligations, the economy begins to slows down, hundreds of thousands are left unemployed, families can’t afford their mortgage, the housing bubble pops, banks repose homes, families are ruined, local governments lose millions from their pensions, some local governments go into bankruptcy, banks buy up homes for less than they worth, homeowners own mortgages for more than their homes are worth, banks begging renting homes back to families that lost their homes in foreclosures, banks push local governments to lower properties taxes since they now own a large number of homes, local communities lose out on income, funding to schools is cut, …