What lies ahead in 2010?
by Jonathan Pain, Editor, The Pain
Remember the Tech bubble? I seriously believed that
Wall Street would never again be so stupid. Or
should I say, never again would Wall Street make us
all feel so stupid. But, no, less than five years
after the Tech bubble burst, banks were lending to
anyone with a birth certificate and investment banks
were creating, mass producing and securitising NINJA
mortgages and selling them to the world. Regulation,
what regulation? The whole rotten system ...
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