I'll be the first to admit, I'm not the sharpest crayon in the box. All these words like toxic assets, collateralized debt obligation, complex derivatives, credit default swaps, regulation, and de-regulation have my head spinning.
There's not enough knowledge between my ears to even begin to write a post that makes any sense of what has happened to our economy or why.
Here's where YOU come in. I'm going to use one of my 'classroom assignment techniques' and let YOU, the student, the more intelligent of the two of us, comment and be creative. In this type assignment, words, names, places, phrases, etc. are listed and you can choose one or three or all to write a story, a poem, research a person(s), create whatever you want to from this list:
A.I.G. (Arrogant, Ignorant, Greedy) or create your own acronym...
Joseph Cassano (AIGFP) create your own acronym...
Maurice "Hank" Greenberg
Senator Phil Gramm
Glass Steagall Act
Commodity Futures Modernization Act
OTS (Office of Thrift Supervision) or create your own acronym...
In bed with...
Forgets to pay taxes...
How much is a billion...
If you don't recognize some of those mens' names, they are connected in some way. Spend a few minutes "Googling" their names to see how they all fit together.
In the meantime, I'll be on recess duty.