When Joe Homeowner bought too much house, essentially betting that home prices would go up, and losing his bet when they dropped, he was an irresponsible putz who shouldn’t whine about being put on the street.
But when banks bet billions on a firm like AIG that was heavily invested in mortgages, they were making the same bet that Joe Homeowner made, leaving themselves hugely exposed to a sudden drop in home prices. But instead of being asked to "suck it in and cope" when that bet failed, the banks instead went straight to Washington for a bailout -- and got it.
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Attorneys General Settlement: The Next Big Bank Bailout? | Matt Taibbi | Rolling Stone - 0 views
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Occupy Wall Street: Washington Still Doesn't Get It | Matt Taibbi | Rolling Stone - 0 views
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OWS's Beef: Wall Street Isn't Winning It's Cheating | Matt Taibbi | Rolling Stone - 0 views
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