Joining host Dennis McCuistion is Charles Gasparino. Gasparino is a critically acclaimed investigative journalist, CNBC TV personality and author of The Sellout: 30 Years That Led Up to the Financial Crisis.
Gasparino goes back to 1980 and how Wall Street’s “love affair” with risk precipitated the financial meltdown of today. He talks about the advent of mortgage-backed securities, the packaging of mortgages to bonds and the selling of those to Wall Street. Gasparino comments on the bond market situation in 1986 and how Alan Greenspan, the former Chairman of the Federal Reserve Bank, lowered interest rates in 1987 and bailed out Wall Street. And, the situation goes on, he claims, with no end in sight.
Stay tuned for a riveting and disturbing story that will be continued next week…
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