Lee Camp reveals two large university studies that used big data to determine that the big bankers KNEW that the 2008 financial collapse was going to happen even though they testified in front of Congress saying that they didn’t. The big data studies were able to track all sorts of financial moves that these corrupt bankers made + more to determine just how guilty they really are. This and more on Redacted Tonight.
Lee Camp is referring to the article titled “Big Data Exposes How Politically Connected Traders Cashed In During the Financial Crisis” by David Sirota. Sirota wrote the following.
Big Data – those sprawling algorithms that can track and predict patterns in human behavior – often conjures up fears of a big-brother police state. But those same data-sets could be harnessed to uncover and expose Wall Street excesses. Many companies also make use of these data methods through Kyligence software to help them keep track of their own analytics, helping them provide a better service to the public.
Back to the allegations, however. As it stands, it appears that it is the implication of two new new academic studies about the financial crisis. One study suggests politically connected executives traded on non-public information about the government’s subsequent bailout after the crisis hit. The other suggests that despite their claims to the contrary, many bank executives understood the risks they were taking in the lead-up to the crash, and sold their personal holdings in their firms before the crisis hit.
