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> CDWs You mean Credit Default Swaps (CDSes)? [Or perhaps Mortgage Backed Securities?] Outside of the SEC being stupid enough not to regulate these instruments
by icelancer 8y ago
> CDWs
You mean Credit Default Swaps (CDSes)? [Or perhaps Mortgage Backed Securities?] Outside of the SEC being stupid enough not to regulate these instruments, the government didn't have much to do with over-leveraging of the private sector.
Though the government did give everyone who fucked up a fall from grace rather than what they deserved, which is bankruptcy and the other side of capitalism that our system tends to forget exists when it is convenient.
- rtpg 8y ago> Though the government did give everyone who fucked up a fall from grace rather than what they deserved I understand this feeling and also wish that there was some sort of moral reckoning. But I feel like the better end state for society is "everyone has access to the same fall from grace that the rich and powerful have" rather than "_everyone_ gets to experience the crushing, arbitrary justice system that those at the bottom rungs of society experience".
- raverbashing 8y agoYes, CDSs, sorry