How did we get here?
Mortgages were packaged as securities and traded like baseball cards, resulting in the largest reduction in home values ever.
The financial system nearly collapsed as trillions of dollars worth of toxic assets threatened to destroy banks' balance sheets.
Reckless deregulation of financial services led to rampant speculation across the board—driving up commodities prices, sending fuel costs through the roof and throwing entire nations into chaos while tossing more and more Americans onto welfare rolls.
And out of control, unfunded wars raged on, draining valuable resources, killing thousands of our best and brightest and exploding our national debt to unprecedented levels.
But luckily, after all of this misery, we've come together as a nation and learned a valuable lesson.
It's all the Mexicans fault.
Guess we can move on now.
No comments:
Post a Comment