Detailed text transcripts for TV channel - MSNBC - 20120123:21:34:00
It was mainly free money from the fed. almost 0 interest rates. massive encouragement for people to leverage speculate. the reason those work is you have the green span put in the bernanke put. borrow 99 cents. buy 100 cents worth of assets and don't worry that anything bad is going to happen because the fed has your back. >> you're say we have done nothing since 2008. so is it going to take meltdown for a reset meeting? it sounds like it's going to hit rock bottom somewhere. . >> we're doing the same thing over and over. the top six banks had $6 trillion in assets. they now have $9 trillion. ...
Source: news source