Mar 25, 2021
I actually don’t “need” to read more. I understand how the financial crisis came about — in detail. From CDOs to liar loans. I know that there were two parties to each of those loans that went into default: a lender who took risk, and a buyer who took risk. I know that in 99.999% of the cases, the lenders — the banks — were bailed out, and in roughly 0.001% of the cases the buyers were helped.
I know about “too big to fail” and that that is a bullshit term invented to deflect argument. See Iceland for the correct response to fraudulent bankers and the 2008 crash.