2008 Regulations
Financial Products
Post Crisis Laws
Market Failures
Industry Culture
100
This person was in charge of monitoring fair and just customer treatment at major banking institutions.
! 404 ERROR !
100
A "great" investment product that should have raised some red flags due to certain applicant criteria being overlooked and disregarded.
What are Liar Loans?
100
"Funeral Plans", which required a company to make plans for its possible liquidation, were made mandatory under this law.
What is Dodd-Frank?
100
The government bailout did not allow these institutions to fail and corporate management was not punished.
Who are the major banks that I couldn't afford to pay?
100
"It is hard for us...to even see a scenario within any kind of realm of reason that would see us losing $1 in any of those transactions."
Who is Joseph Cassano, AIG Financial Products Executive?
200
This group certified that loan ratings given by the credit bureau were reasonable.
! 404 ERROR !
200
A structured financial product that pools together cash-flow generating assets and repackages this asset pool into discrete tranches that can be sold to investors allowing bankers to create a new product with little transparency.
What are CDOs, Collateralized Debt Obligation?
200
This system was created to address systematic risks posed by large companies before they threaten the entire stability of the economy.
What is the Advanced Warning System?
200
The only unlucky financial firm in 2008.
Who is Lehman Brothers?
200
A banker dreams of these at Christmas time.
What are cocaine snowmen?
300
These regulations were in place to prevent banks from making a profit by betting against their own products.
! 404 ERROR !
300
It is a bet. It is like Vegas, but with more graphs and pie charts ... and we use your Grandma's pension.
What are derivatives?
300
An overseer with no oversight, this government agency was created by Dodd-Frank.
What is the Consumer Financial Protection Bureau?
300
Betting against a sale that you originally backed "verbally" to your customer.
What is conflict of interest?
300
The Financial VIP Club of New York.
What is the strip club I go to after work?
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