And so when you had Wall street creating collateralized debt obligations and packaging pools of toxic mortgages and then selling them off and then buying credit default swaps against it to make money when they fail, There was all the regulations in place to enforce and stop Wall Street from doing that. And the federal government played a big role of trying to encourage and push more and more people into housing with looser and looser lending standards. (26:04–26:11)
CLAIM
Asserts that existing regulations could have stopped Wall Street's harmful practices if enforced.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
