Archive for the ‘Andrew Cockburn’ Category

American Casino

DVD: American Casino

Andrew and Leslie Cockburn have produced an investigation into the housing / financial crisis, and in particular the mortgage company “product” called “subprime mortgages.”

“We meet the players. A banker explains that the complex securities he designed were “fourth dimensional” and sold to “idiots.” A senior Wall Street ratings agency executive describes being ordered to “guess” the worth of billion dollar securities. A mortgage loan salesman explains how borrowers’ incomes were inflated to justify a loan. A billionaire describes how he made a massive bet that people would lose their homes and has won $500 million, so far.”

Continue