Post by 3bid on Jul 22, 2014 9:41:02 GMT -5
"The cycle repeats itself, because there's no deterrent for fraud... interest rates are too low, so it encourages mal-investment... there's no oversight; there's no SEC; there's no regulatory body that's worth its salt. The financial media is corrupt and full of propaganda; the rating agencies are completely corrupt. And the hedge funds are trading on inside information and completely corrupt... Obama said we have to move forward, we can't look back. Wells Fargo, as the NY Times pointed out with the very first sentence of this story, is the one that loaned $15K to this guy who hasn't had a job since 1991. Well's Fargo is one of the biggest participants in the subprime mortgage disaster."
Published on July 22, 2014
In this episode of the Keiser Report, Max Keiser and Stacy Herbert remember George W. Bush in 2008 saying Wall Street got drunk, needs to sober up and stop playing with fancy financial instruments. Meanwhile, today, those ‘fancy financial instruments’ go downmarket with subprime loans on used automobiles. In the second half, Max interviews Jan Skoyles, CEO of the Real Asset Company, about bitcoin, silver and gold and the new service of offering gold on the blockchain!