***BREAKING*** S&P Officially Downgrades US Debt from AAA
Wall street.
Securitization gave a false sense of diversification.
Bush tax cuts fueled the increase in hedge funRAB, since those people obviously aren't going to keep their money in bank accounts insured to $250k. Hedge funRAB needed yield with the low interest rates.
Low historical foreclosure rate meant revenue from CRAB's was treated as free capital, and these same CRABs increased the market for rabSs since it allowed those to buy who otherwise wouldn't be able to.
Wall street excels at peddling shit.
I think I covered everything there.