Quickily, let's remove more regulations to avoid this!
this post was submitted on 24 Nov 2024
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take some low risk loans and package them together to increase yield
trade packages with investors and banks
put those packages into huge CDOs, then make CDOs of CDOs, then essentially gamble on the value of said CDOs
morbillion dollars achieved
run out of low risk loans to package
Yolo, let's just put all the loans in, what could possibly go wrong lol
8% of the poor plebs go delinquent on their predatory loans
2008 financial crash
lobby congress to bail you out so you get paid, tell everyone it was the fault of immigrants and poor people
repeat
Savings banks that hold the money of normal people need to be split off from investment banks. So they can collapse and not use these savings as collateral for their risky behavior.
This used to be the law in the US. It was stupidly undone during the Clinton administration.
https://en.m.wikipedia.org/wiki/Glass–Steagall_legislation
Sorry dude, but they aren’t back. They aren’t back because they never left.
Whoever's writing this timeline is just like, "C'mon, guillotine the billionaires already!"
GME stock owners be like "Yeah, we have been talking about that shit for years now!"
Explain in some detail as to how this is connected.
Just saying that these guys have been going crazy trying to find all the cracks in the system and have been talking about all the systemic risks for years at this point. It's not related to GME in particular, it's just that this crowd of retail investors are extremely interested in anything that could point to a potential market collapse and they are ahead of financial news sites for many of these things.
tl;dr is that when the GameStop squeeze didn't occur, loads of those traders got really into market mechanics, fiscal policy, and activism.
I still sign their petitions, but I've had the passion for it beaten out of me over the years. Markets are, I believe, unfair by design, and this economic system is functioning exactly as intended.
Yes
I wonder what excuse the people who voted for Trump because of "the economy" will come up with next time.
This article depicts my worries very well.