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It's going to be the financial crisis all over again. Ppl default on loans because they lack cash flow banks didn't account for this with lax lending standard
by blobbers 7y ago
It's going to be the financial crisis all over again.
Ppl default on loans because they lack cash flow
banks didn't account for this with lax lending standards
banks go bankrupt but TARP style program bails out banks
hopefully people stay in their homes ...somehow. (some kind of mortgage payment moratorium?)
- KaoruAoiShiho 7y agoBanks are fine now dude, it's nothing like 08.
- blobbers 7y agoJust wait. Canadian banks have been hit hard due to falling oil prices and expected resultant bankruptcies. American banks will get hit by rising unemployment.
- a_t48 7y agoWe need a mortgage and rent payment moratorium nationwide if the majority of the country is expected to just stop working.
- vsareto 7y ago>banks didn't account for this with lax lending standards Pretty sure the ratings fraud got fixed. Also pretty sure they didn't just go back to handing loans out to anyone with a pulse. I'm sure there's some crazy intricate financial instruments made up of dogshit still around, but it's probably going to be a smaller percentage of the bank's balance sheet.