Part III: The Crisis
By this time, warnings were being sounded by advisors to the Federal Reserve (the Fed) and the FBI, which was seeing a rise in mortgage fraud. Hedge fund manager Bill Ackman and author Charles R. Morris sounded public warnings. The market for CDOs collapsed and investment banks were left with hundreds of billions of dollars in loans, CDOs and real estate they could not unload. What would later be called the Great Recession had begun (November 2007).

Part IV: The Financial Rape of Investors
Wall Street’s deviant behavior extended to to the top.  Strip Clubs, drugs, over-the-top expenses like corporate jets to go golfing, entertain or vacation were the norm rather than the exception.  The funds that fueled this moral hazard came from pension and retirement funds from government workers, unions and corporate retirement beneficiaries.

Where are we now?