Are the Banksters Now Setting Up the Crash of 2016? | Alternet

Are the Banksters Now Setting Up the Crash of 2016? | Alternet:

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December 3, 2013  |    This article was first published on Truthout and any reprint or reproduction on any other website must acknowledge Truthout as the original site of publication.

As the great Yogi Berra once said, "it's déjà vu all over again."

Right now, millions of Americans are still struggling to recover from the 2008 financial collapse.

That collapse was fueled by the housing crisis, when Wall Street banksters were running around betting on risky mortgage-backed securities that they could sell to investors and make billions from.

They were able to do that because the Graham-Leach-Bliley Act and the Commodities Futures Modernization Act had blown up rational banking regulations, and, as a result, we saw things like the so-called mortgage "liar loans".

Banksters were able to turn billions of dollars in risky mortgages into trillions of dollars in derivatives.

And then everything went to hell."

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