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Can you be precise about what they knew? Knowing a crash is coming isn’t necessarily that interesting - a crash is always coming, it’s just not clear on what ti
by pgwhalen 5y ago
Can you be precise about what they knew? Knowing a crash is coming isn’t necessarily that interesting - a crash is always coming, it’s just not clear on what time horizon, or what its secondary effects will be.
JumpCrisscross did make the interesting point that the “bankers were selling crap” narrative about the crisis is often overstated - the real reason that the situation was a crisis was the cascading liquidity issues, not so much defaulting debt.