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>and providing access to more exotic investments and financial derivatives. People having access to exotic investments they didn't understand (and hence couldn
by itsoktocry 6y ago
>and providing access to more exotic investments and financial derivatives.
People having access to exotic investments they didn't understand (and hence couldn't correctly price) was exactly how we got 2008.
Wall Street benefits from volatility and all of this trading, they aren't losing any edge.
- ThisIsTheWay 6y agoPeople - and here I mean the average person, not the ultrawealthy - were conned into buying things they couldn't afford, not exotic investments. Assuming the exotic investments you're talking about were the various derivatives markets propped up by bullshit, that was massive corporations making investments and taking on risk they didn't even understand. Unfortunately, the fallout impacted average people who weren't even directly involved.