![]() People lost their homes and investors and pension funds suffered heavy losses. ![]() The repercussions were severe and spread throughout the economy. Through financial engineering, these ‘toxic’ mortgages were then sliced, diced and bundled up into fancy packages and sold off to outside investors, who later lost out when house prices declined and borrowers defaulted. ![]() Banks provided mortgages to people who were unable to afford them in order to earn greater fees. Inside Job demonstrates how the American financial sector brought the country to the brink through reckless risk taking, complex financial structures, and sheer greed.
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