The deregulation was not the issue. It was, they didn't even enforce the regulations that were in place. Washington DC, which is another big problem, has been corrupted and bought off. And Wall Street got away with basically murder. And the federal government promoted some policies that were not constructive at all. And so when you had Wall street creating collateralized debt obligations and packaging pools of toxic mortgages … (25:38–25:42)
CLAIM
Asserts that Wall Street engaged in highly unethical or illegal activities without facing consequences.
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.
