The Root Cause of Protest

The root cause of the protest is found in the paragraph explaining that the banks planned off balance sheet banking, as a means to hide bad loans, way back at basel 2 in 1998. This, along with the repeal of Glass-Steagall, which allowed banks to write swaps (insurance) against their risky loans, were the two most important factors leading to the credit crisis.

in reference to: Don't Pay Credit Cards (view on Google Sidewiki)


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