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Isn't that possibly like saying that New Century was "just" a real estate investor?
by arethuza 1y ago
Isn't that possibly like saying that New Century was "just" a real estate investor?
- kragen 1y agoIt's always possible. But New Century was originating tens of billions of dollars of mortgages per year, and at first glance, PrimaLend seems to have been closer to 0.1 billion dollars in car loans per year. So I'd put this on the Candidate Apocalypse Etiologies List somewhere below the Trump tariffs, the Mutual Defense Treaty, TSMC, the Ukraine war, OpenAI, Gaza, the ASS buying drones, and Elon Musk's mental health.
- arethuza 1y agoA fair point, but I do wonder if in these situations the tension builds up (e.g. the list you mention) and at some point something, possibly something relatively small, such as an Archduke getting shot triggers a much wider conflict.
- dmsayer 1y ago"the ASS buying drones," care to elaborate on that one for me a little more? are we even doing phrasing anymore?
- kragen 1y agoNiger, Mali, Burkina Faso.
- thinkcontext 1y agoIts possibly a leading indicator but not a domino like New Century was. But I suppose it really depends on how many opaque financial instruments are based on their underlying loans.