Detailed text transcripts for TV channel - MSNBC - 20100407:20:02:00
It's funny money. they had no capital to back up their lending. but that did not matter because they also had no risk in the lending. get the lending paid off, they win. and they won big when they did that because they did it with leverage. top manhattan executives alone paid themselves $121 billion in bonuses over the first part of the decade. now, mind you, when the bank loans failed, they knew they were too big to fail. so the rest of us, you and me, would have to bail them out. ignorant electorate, if you will, the patsies who had no idea, and really still don't, understand how badly they ...
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