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>When the music stopped, people realized those assets were garbage. They weren't "garbage"; they were worth less than expected at the time they needed to be li
by aguyfromnb 7y ago
>When the music stopped, people realized those assets were garbage.
They weren't "garbage"; they were worth less than expected at the time they needed to be liquidated. This caused major problems (obviously), and it's precisely why the Fed stepped in to provide liquidity. Many of those so-called garbage assets turned out to be great investments.
- MichaelApproved 7y ago> Many of those so-called garbage assets turned out to be great investments. Because they were sold at garbage prices. People buy recycled trash and make money doing it but that trash is still garbage.