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Crypto firms aren’t systematically important, so no bailout is necessary or warranted. This is more like the .com bust than anything else. In both cases, irrati
by sumy23 4y ago
Crypto firms aren’t systematically important, so no bailout is necessary or warranted. This is more like the .com bust than anything else. In both cases, irrational exuberance surrounding unsound companies quickly vanished.
- kayamon 4y agoWhose 401K was plundered to fund these bad investments?
- sumy23 4y agoNo one’s 401k was plundered. Most of this was funded by the Federal Reserve via a combination of quantitative easing, low interest rates, and increasing the money supply. The Fed created the perfect environment for runaway speculation.