Canada was largely isolated from the 2008 banking crisis. Other parts of the world–including the US–were at the centre of the storm which was a complete creation of the greed on Wall Street. The causes of the crisis were so complex that the people who caused it didn’t really understand what was going on. And how many people went to jail for concocting a situation that ruined the financial lives of millions. Zero. If that sickens you, it should. It was one vast orgy of financial and political corruption that’s still being felt today.
This brings me to Marshall Swing, “a financial economics analyst, recording artist, Messianic minister, retired Oracle Database Administrator, computer programmer, retired U.S. Air Force, and was a former Chairman in the Illinois Republican Party.” This song, “Blythe the Knife” (yes, it’s based on Bobby Darrin’s “Mack the Knife”) speaks of Blythe Masters, the former head of Global Commodities at JP Morgan who came along when it was forced to absorb Bear Stearns. Swing says Blythe “is the primary figure the people should know who almost single handedly led the creation of derivatives investments which were the primary cause of the 2007-2009 financial crisis and the multi-year ongoing depression and the main reason tens of millions of Americans lost their jobs and homes.”
The usual suspects are also skewered in the song: Jamie Dimon (JP Morgan), Lloyd Blankfein (Goldman Sachs), Tim Geithner (NY Fed), Ben Bernanke (Fed Reserve Chairman), Hank Paul (Secretary of the Treasury) and a few other politicians. Please enjoy this clip. More info can be found here.