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I feel like the analogy does not quite hold because when the junk debt was vendored in, the maintainer actually has more knobs than before to fix the problems -
by bunnie 3y ago
I feel like the analogy does not quite hold because when the junk debt was vendored in, the maintainer actually has more knobs than before to fix the problems - and if it's as easy as bumping some dependencies and fixing a few method signatures, it might actually happen.
Whereas in the 2018 crisis, junk debt was rolled into CDOs but there were no 'knobs' the bankers could turn to actually improve the fundamentals of the junk debt. By repackaging the debt they did not get any right to fix the bad actors that made it bad. Things were actually bad, and when it defaulted there was insufficient firewall to prevent the contagion from affecting the encapsulating derivative.
Of course it is up to the maintainer but by absorbing an abandoned project, they are actually reducing the amount of unmaintained code, versus simply hiding it.
Probably the more accurate analogy to 2018 would be if a private equity firm started a company you could pay to upgrade the rating of an unmaintained Rust package, but no actual change happened and all they did was swap labels on things until the problematic rating disappeared.