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You know the 2008 crisis is still fresh in a lot of people’s memory right?
by baby 5y ago
You know the 2008 crisis is still fresh in a lot of people’s memory right?
- notahacker 5y agoThe 2008 crisis was the banks losing their assets, not the banks lying about their assets. Though yes, it amuses me to see crypto advocates' reaction to 2008 was to enthusiastically defend the right of crypto companies to do worse whilst pretending not to.
- cartoonworld 5y agoDidn't the banks lose their assets because of (among other things) the repackaging of mortgages with fraudulent ratings into mislabeled securities, resold as a higher value note?
- imtringued 5y agoYes but how does crypto solve this problem? Letting people borrow money isn't a flaw in our banking system. The lack of due diligence is.
- cartoonworld 5y agoThat's true, but at least programmatic securities for all its pitfalls and possibly bugs, is likely to do what it says on the tin.
- peakaboo 5y agoNot to mention there are quite a few people seeing the same signs of a crash now as in 2008.