A lot has been written about the mass wave of stupidity behind housing loans during the bubble era. But this is shocking beyond belief - Citibank falls for Nigerian 419 scam.
Why are we giving these people taxpayer dollars?
- Thread starter WINEX_IHB
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This wasn't your traditional 419 - rather, it was a scam that happened to be originating from Nigeria. Still bad - but not as funny.
Answer:
Because we got rid of Glass-Steagal and allowed several banks (Wells, Citi, BoA) to become too large to fail. These guys successfully passed the risk from the shareholders to the taxpayers. Bravo.
green_cactus_IHB
New member
WINEX said:
This wasn't your traditional 419 - rather, it was a scam that happened to be originating from Nigeria. Still bad - but not as funny.
no_vaseline_IHB
New member
WINEX said:
Answer:
Because we got rid of Glass-Steagal and allowed several banks (Wells, Citi, BoA) to become too large to fail. These guys successfully passed the risk from the shareholders to the taxpayers. Bravo.
biscuitninja_IHB
New member
Wow, just wow. It always stuns me just how STUPID somepeople are. I can't believe anybody does ANY work with Nigeria.... at all.
-bix
-bix