Quote:
Originally Posted by JoshGirls Josh
actually history is unlikely to repeat. the feds have banned most of the abusive loans at the grassroots level. so despite the continuing lack of derivatives regs, its no longer possible for a regional banks to create the fraud loans that were at the core of the 08 calamity. also the rating agencies like moodys are in no position to repeat mistakes of the past like attaching triple A ratings to junk bonds.
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That's the problem. They've moved on to other insane bets. The size of the derivatives market has DOUBLED since 2008 to $1.2 Quadrillion. I take no pleasure in saying it, but under current conditions, the shit
will hit the fan again. And we the people will be on the hook for it yet again.