The Picard ManeuverM to memes • 2 days agoA totally normal thingimagemessage-square90arrow-up1977arrow-down114
arrow-up1963arrow-down1imageA totally normal thingThe Picard ManeuverM to memes • 2 days agomessage-square90
minus-square@disguy_ovahealink20•edit-22 days agoYup, and banks are returning to high-risk securities, trading in debt-based products like collateralized loan obligations, just like they did leading up to the 2008 global financial crisis. https://www.theguardian.com/business/2024/nov/24/remember-the-global-financial-crisis-well-high-risk-securities-are-back Bank: You should take out this loan you can’t afford to repay. Don’t worry, we’ll make it seem like a great idea. Unqualified borrower: Ok, since you made it seem like a great idea. Bank: Great! Hey, other bank, betcha this guy won’t repay this loan.
Yup, and banks are returning to high-risk securities, trading in debt-based products like collateralized loan obligations, just like they did leading up to the 2008 global financial crisis.
https://www.theguardian.com/business/2024/nov/24/remember-the-global-financial-crisis-well-high-risk-securities-are-back
Bank: You should take out this loan you can’t afford to repay. Don’t worry, we’ll make it seem like a great idea.
Unqualified borrower: Ok, since you made it seem like a great idea.
Bank: Great! Hey, other bank, betcha this guy won’t repay this loan.