Comments by "LRRPFco52" (@LRRPFco52) on "ColdFusion" channel.

  1. Greece wasn’t even reporting their defense spending to the ECB, so it’s hard to present them as victims in the financial crisis.
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  2. European Central Bank had 3-4.5% minimum reserve requirements, making them extremely vulnerable to bumps in the market. European banks bought up the bundled sub-prime loans, which is why Europe was hit so hard. Lenders knew these sub-prime loans were high-risk, so they bundled them together as described in the video. All of this was really initiated by the US Congress and Clinton WH getting rid of Glass Steagall, then penalizing banks if they didn’t issue mortgages to people who didn’t even have bank accounts or jobs.
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