Subprime video - very funny and prescient showing arrogance of IBankers as a satire (MUST WATCH!)

[Lucky Luciano]

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=199294&mesg_id=199294

[Sarah Ibarruri]

1. OH MY GOSH, that's brilliant and it's exactly what happened lol

It should be mandatory watching for kids in high schools to explain to them just how f greedy and stupid Wall Street and bankers are.

[Lucky Luciano]

2. I know - these guys are great...they have other similar videos

on youtube that are highly rec'd! Funny how the IBanker demands money and if they don't get it, the pension funds will suffer!

[malaise]

8. I watched this last year

but it's twice as funny now

[Sarah Ibarruri]

11. It's hillarious! nt

[leftstreet]

3. "High Grade Structured Credit Enhanced Leverage Fund"

Cuz it sounds so good!

Excellent video!

[Sarah Ibarruri]

4. OMG I loved it! nt

[Lucky Luciano]

5. Shameless kick since more people need to see this! nt

[Karenina]

6. The humour I enjoyed. The racism not so much...

[Prometheus Bound]

7. I found that incredibly embarrassing at 3:15.

It was very funny up to there, but I couldn't listen to the rest.

[Karenina]

9. The rest was indeed funny...

IF you exclude the reference of an "unemployed black man sitting on his porch in Alabama in his spring best" as THE CAUSE of the meltdown.

[Lucky Luciano]

10. Indeed...the racist bit (incidentally, string vest is what I heard) annoyed me

too and made an otherwise excellent satirical interview offensive. Nonetheless, the points made are very good - especially at the end.

...also I don't think they said the cause of the meltdown was selling mortgages to unemployed people as much as it was the fact that the mortgage brokers were incentivized to close deals on mortgages without taking any responsibility for the creditworthiness of the borrowers.