With Big Banks Coming Clean – Should We Start Breaking Them Up?
With Goldman Sachs and Wells Fargo paying multi-billion dollar settlements after admitting to being less than truthful about their mortgage practices, it’s possible other banks on Wall Street might come clean. There is much debate about whether sub-prime mortgages were a conscious (and idiotic) attempt at making a ton of money, or if the banks were as in the dark about the consequences as consumers were before the financial crisis of 2007-2008. It’s easy to blame the banks, they’re the ones who had the power and they knew exactly what they were doing – right? Steve Eisman, the hot-headed portfolio manager from the Big Short Continue reading With Big Banks Coming Clean – Should We Start Breaking Them Up?