ProPublica: Banks and Financial Crisis

ProPublica details how banks fueled the financial crisis by creating a fake demand for mortgage back securities to preserve earnings.

“A ProPublica analysis shows for the first time the extent to which banks — primarily Merrill Lynch, but also Citigroup, UBS and others — bought their own products and cranked up an assembly line that otherwise should have flagged.”

Full Article: Banks’ Self-Dealing Super-Charged Financial Crisis

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