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Do you know how all these banks went broke?

August 18, 2009 By: Doctrader Category: Long term savings

Could it be because they are mostly the same banks that were fined for fraud in the Enron case?  So you think it had nothing to do with the billions of dollars in fines the banks are required to pay due to fraud in the Enron debaucle?


A goodly cause is the subprime mortgage meltdown. These banks heavily invested in these mortgage packages, and also were playing heavily with derivatives in the stock market. It’s very complex, but their investment managers made a whole slew of bad investments.

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1 Comments to “Do you know how all these banks went broke?”


  1. acermill says:
    August 19, 2009 at 12:12 am

    A goodly cause is the subprime mortgage meltdown. These banks heavily invested in these mortgage packages, and also were playing heavily with derivatives in the stock market. It’s very complex, but their investment managers made a whole slew of bad investments.
    References :

    1


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