"We're still in a recession. We're not gonna be out of it for a while, but we will get out."
-Warren Buffett
Don't blame Wall Street, don't blame the big banks
The greed and dishonesty within wall street. Along with the greed that also came along with emotional well being towards wall street. The start of the great recession was impossible for anyone to expect what would/has happened. Many things just brushed by different levels of authority. Allowing bank loans for those who were at 80% of the median rate. "An example, a family received home loan for $300,000 could be marked up to $500,000 if home values appreciated enough. This additional $200,000 in assets allowed the bank to lend out more dollars and stay within its legally defined capital ratio. Unfortunately, when the home’s value fell to $250,000, the bank had to adjust its assets downward, even though they still received a monthly mortgage check on a $300,000 mortgage.”