2 ms·
This is more akin to the 1991 recession or the weird 1997/1998 not quite recession. 2008 was multiple houses of cards that were built in the belief they were in
by epc 4y ago
This is more akin to the 1991 recession or the weird 1997/1998 not quite recession. 2008 was multiple houses of cards that were built in the belief they were insulated from external risks collapsing due to tight interdependencies which then caused the ensuing recession.
- yuppie_scum 4y agoI don’t think anybody really cared that much about the risks, everyone was just looking out for their own bottom line with no regard for the systematic consequences.