{"id":1248,"date":"2010-04-24T08:46:15","date_gmt":"2010-04-24T08:46:15","guid":{"rendered":"http:\/\/astraea.net\/blog\/?p=1248"},"modified":"2010-04-27T09:01:28","modified_gmt":"2010-04-27T09:01:28","slug":"bankers-crashed-the-economy","status":"publish","type":"post","link":"https:\/\/www.astraea.net\/blog\/bankers-crashed-the-economy\/","title":{"rendered":"Bankers crashed the economy."},"content":{"rendered":"<p>It wasn&#8217;t just bankers, we all played a part.\u00a0 But top of the list of immoral players are fiduciaries.\u00a0 The US Senate Subcommittee investigating the financial crash of 2007\/8 highlighted <a href=\"http:\/\/news.bbc.co.uk\/2\/hi\/business\/8642413.stm\">emails by top investment bankers who were short selling the mortgage security market as it declined<\/a>, while publicly obfuscating the hole in the financial system.\u00a0 Not surprising, but infuriating and unethical.\u00a0 Unfortunately not illegal.\u00a0 And the system is not changing.\u00a0 The global financial system is being resurrected as it was before with inherrent moral hazards.<\/p>\n<p>Is there hope for change?\u00a0 Yes, open media and personal choices about investment and consumption can change the system.\u00a0 But that means all of us, individuals, must make more enlightened and less selfish choices.\u00a0 And that is going to take time or catastrophe.<\/p>\n<p>BBC: <a href=\"http:\/\/news.bbc.co.uk\/2\/hi\/business\/8642413.stm\">Goldman in crash profit boasts <\/a><\/p>\n<p>BBC: <a href=\"http:\/\/news.bbc.co.uk\/2\/hi\/business\/8645527.stm\">Goldman Sachs &#8216;profited at clients&#8217; expense&#8217;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It wasn&#8217;t just bankers, we all played a part.\u00a0 But top of the list of immoral players are fiduciaries.\u00a0 The US Senate Subcommittee investigating the financial crash of 2007\/8 highlighted emails by top investment bankers who were short selling the mortgage security market as it declined, while publicly obfuscating the hole in the financial system.\u00a0 &hellip;<br \/><a href=\"https:\/\/www.astraea.net\/blog\/bankers-crashed-the-economy\/\" class=\"more-link pen_button pen_element_default pen_icon_arrow_double\">Continue reading <span class=\"screen-reader-text\">Bankers crashed the economy.<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[24],"tags":[],"class_list":["post-1248","post","type-post","status-publish","format-standard","hentry","category-markets"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4hwcd-k8","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/1248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/comments?post=1248"}],"version-history":[{"count":3,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/1248\/revisions"}],"predecessor-version":[{"id":1250,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/1248\/revisions\/1250"}],"wp:attachment":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/media?parent=1248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/categories?post=1248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/tags?post=1248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}