Put simply bad debts where sold as triple A investments when people who sold them knew they were bad debts. They insured themselves against any loss. Paid by the borrower, and they pocketed all the money paid out by the insurance companies for the subsequent losses.
This is the biggest scam in the history of the world.
No one has been brought to Justice for this their punishment was to be rewarded with tax payers money and massive bonuses.

An estimate is that these Bankers spent over 10% of their considerable incomes on vice including drugs and prostitution and this was all paid for by their companies on company credit cards and I think if the serious crime squads worldwide seek the truth we can still get some justice from these crooks remember it was tax evasion that brought down Al Capone.

President Obama came to power promising to bring these villains to justice so far he has just reappointed the people who were in financial power under Bush and it is just more of the same.

President Obama has become the slave of Wall Street. Why?