Bet your bottom dollar: the powerful won’t be punished

Tens of thousands of financial whiz-kids have made millions on the sub-prime scam over the last several years.

20th September, 2008

Tens of thousands of financial whiz-kids have made millions on the sub-prime scam over the last several years.

Banks made billions in profits and distributed much of this to shareholders, while executives of five of the major banks made $95 billion between them, according to the Financial Times.

The orgy of ‘‘financialisation’’ - combined with deregulation, privatisation, tax-cutting and outsourcing - made billionaires of many. With its collapse will come misery for tens of millions of...

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