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> the resulting damage was huge (bankruptcies, people's lives' ruined), still having repercussions ot this day. same thing happened in other countries in easte
by kmlx 4y ago
> the resulting damage was huge (bankruptcies, people's lives' ruined), still having repercussions ot this day.
same thing happened in other countries in eastern europe. it was a mess, but to me it showed that people don’t really understand what they’re signing.
- throwaway2037 4y agoThis: <<it showed that people don’t really understand what they’re signing.>> It demonstrates that regulation was too weak. They shouldn't have allowed people to borrow huge sums of money (to buy a house) in foreign currency. It was a recipe for disaster.
- kmlx 4y agoi don’t agree with this. it’s essentially up to the people to decide what’s best for them. and i’m sure the lesson has been learned now re. CHF. of course the lesson should have been taught at some point during formal education, but alas. plus, to top it all off, there are countless financial products to isolate yourself from fx fluctuations. it’s just that education is lacking.