Unintended Consequences

As a direct result of the policy, not only did Wall Street start to look more like a gambling casino but the affiliated industries began to be corrupted. The rating companies whose job it was to pass judgment on the quality of a given investment began to apply AAA ratings to assemblages of junk mortgages. Regulators, whose principal job was the oversight of an industry critical to the health of the US economy, increasingly turned a blind eye to an obviously building crisis. Politicians, who were elected by the people to protect their interests,