•Merrill Lynch, a massive investment back on Wall Street was the starter of the biggest mortgage companies to go wild. Merrill plan was to do a subprime mortgages that would get people to fail on their own toxic products. He knew those debts would stack up and then people would not afford to pay off that mortgage. His plan was to secretly bet against or insuring themselves to fail. Merrill only focused on making more money by doing subprime mortgages. Therefore, the plan was to get mortgages that would not be sustained and redo it into a subprime mortgages. Indeed he would sell them off other corporation that would not question the investment and would more likely not be able to understand the possible risk of buying it. Merrill was doing all these mortgage in secret of other cooptation to understand the real plan because for others it seemed like a good benefit that was not questioned. The biggest bank to go wild was known as JP Morgan Chase in prestigious Wall Street Bank. Chase bank civil settlement was $13 Billion.
1.Did wilding cause the Great Recession?
•I believe that wilding cause the Great Recession. First, the Great Recession occurred because of a sharp decline in economic in the late 2000’s. Derber mentioned that Bernard financial corporation was self-destruction because he did it to his own interest. In fact he got him and his friend’s investment into his financial plans. He would get client money and invest it in his own interest like owning $75 million penthouse, a chateau in France, mansions and dock his $800,000 yacht named “bull.” Yet, he was getting all these luxuries through other people investments. He would lie to his clients about redeem their money for bigger investment at the end. Madoff was sent ...
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... produce dirty product they won’t be supported and instead get targeted. Big companies like Exxon and Duke Energy will talk about clean energy but will be doing the opposite. They will show what people want to see and hear and secretly produce oil, gas, and coal. The corporation are making good profit that it doesn’t benefit them to say they produce these dirty products. Therefore they deny that gas, oil, and coal effect the climate and become deniers. They are deniers for their own benefit which at the end are also wilders. They are smart because they will be “greenwashers” and commit to fight global warming and show charts measuring environmental performances. The truth is that they make it seem like they are willing to help improve global warming while remaining to be an oil company. No matter what they say that oil will always be the world’s supplier of energy.
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