OILIGARCHY: “Blank-Check Companies’, Is the U.S. Fracking Boom Based on Fraud? – By Justin Mikulka

Much like with the housing crisis that caused the financial crisis of 2008, the fracking boom has led to Wall Street bankers finding innovative ways to finance a money-losing endeavor. Some companies are now even selling bonds based on future well performance, a concept similar to the mortgage-backed securities that led to the 2008 housing crisis.

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