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I mean we've seen this play out already, bankers have been forced to open their books due to shady dealings as early as the 14th century. What happens is that
by faeriechangling 4y ago
I mean we've seen this play out already, bankers have been forced to open their books due to shady dealings as early as the 14th century. What happens is that banks fall both legitimate and crooked, things get stabilised for awhile, time passes, everybody eventually forgets why such regulations came into being, greed happens again, and this continues on until the present day with the chaos becoming less frequent yet simultaneously spawning hilariously large black swan events.
I don't know how the fine details of all this will shake out, not well enough to make any money off the affair, but I know the rough outline of exactly what is going to happen. Read up on the early history of fractional reserve banking if you'd like to know too.