Bear Stearns, Freddie Mac, Fannie Mae, Lehman Brothers, AIG… where does it end? Every 20 years it seems we have a repeat of the bullies hurting the little guy to such a degree that they ruin the entire world. In this case we are looking at over a trillion dollars of value destroyed.
Do you realize how big a trillion dollars is?
· $1 trillion would be enough money to buy about 2 brand new cars for every person in Canada.
· A trillion barrels of oil would — at current consumption levels — fuel the world for about 33 years.
· Western civilization has not been around a trillion seconds.
It is not just negligence and lack of oversight, it is outright fraud. These fat cats are criminals and should be treated as such. The instruments were designed to exploit unsuspecting individuals by promising lies and being marketed as trustworthy by institutions with 150 years of operating history.