Funny thing is that the banks were not, for the most part, creating these mortgaged backed securities. Fannie Mae and Freddie Mac were. They buy mortgages from banks enabling the banks to make more mortgages. They then bundled these loans up into bonds having just a good enough mix of risk to make them AAA. The big banks bought entire blocks of bonds and no matter what happens after that, as FMe and FMc created the underlying security that defaulted, they are the ones at fault.
@7NullSeven14 жыл бұрын
I would like to have also seen some examples of instances in which there have been conflicts, but the banks DON'T have a fiduciary duty. This video does leave one with the impression that a bank can be a financial babysitter.
@octdavian14 жыл бұрын
Paddy, you've summarized the last two years of corruption in the financial markets. Well done!
@nchihata14 жыл бұрын
Very informative, thanks
@abhinavitsmebellamy5 жыл бұрын
Thank you. Really well explained!!
@Cocofive14 жыл бұрын
by jove, Thanks for explaining something complicated subject into simple to understand concepts.
@dabazlegend14 жыл бұрын
Great Video
@amalekited14 жыл бұрын
I love these videos
@SalesFanatic14 жыл бұрын
Nice video, although the end line about needing a drink is getting old
@alehud14 жыл бұрын
thumbs up
@supersikh13 жыл бұрын
Badly needing a drink. ;) :)
@charcoaljohnson12 жыл бұрын
Just once I want to hear him say, "which would lead to everybody, badly needing to smoke some pot and chill the fuck out."
@0musing14 жыл бұрын
Hey Pat! Its friday and I am badly needing a drink :)
@Qwazier314 жыл бұрын
That is some chauffeur you hired. =)
@ZeteticPlato Жыл бұрын
Nikola Tesla v Edison Zetetic v Globular Dodge v Ford= AMX Eagle= Jeep Dodge=Dodge