I watched the Big Short, a movie about it tonight (Christian Bale, Steve Carrell, Ryan Gosling, Brad Pitt...and many other famous actors and actresses). I'd never heard of it. So I watched a documentary on it from 2010 after, the Inside Job (narrated by Matt Damon).

These guys were (probably still are) creating CDOs of subprime mortgages, listing them as AAA credit rating. Without going into the whole thing, I can't believe only one person was arrested for the fraud, some asshole from Credit Suisse. They were all involved (Goldman Sachs, AIG, Deutsche Bank, Wells Fargo, JP Morgan, Bank of America, Lehman Brothers, Bear Stearn, Merrill Lynch, etc.). Some of these people were hired in a financial position during Bush and Obama administrations. It goes all the way to the fucking top. Some US university economists are even involved. It caused at least 9 million people to lose their homes in the US alone. Without the government bailouts of several of the big banks, we would have seen a worldwide economic collapse, not just the global recession.

I wouldn't be surprised if another economic crisis is looming, this time involving housing and student loans. They renamed CDOs to something else. They're still doing it.