Between this and the AI bubble, the next crash might well kill US.
…
Let me dream.
“NO SEATBELTS! We Die Like Men” bumper sticker type behaviour
let me tell you, i currently work at one of the companies that caused the crash and we don’t abide by those rules anyway. during my training they were like “okay, the analytics side and the [other] side aren’t allowed to talk business with each other, because of seperation laws put in place after 2008. obviously everyone does it, but don’t do it over official channels ;)”. there was also a LOT of training on what we could legally accept from/give to potential clients without it technically counting as bribery.
disclaimer:
i’m not actually a finance bro, i’m leaving next month to my phd in enviroment science. i just happen to know the dark arts now
Did anybody make any rules to prevent a 2008-style crash? I thought it was a bail out and then right back to it.
Dodd-Frank was actually a pretty major piece of legislation which implemented a bunch of regulations that effectively limited the sort of foolish and predatory behavior that directly led to the 2008 crash.
A huge chunk of these regulations got gutted back in 2018, and this recent push is intended to largely eliminate the rest.
what could possibly go wrong
(I really need a Sicko Miss Frizzle)
And this point Trump should just bring back the gold standard to precipitate another Great Depression.
Didn’t he try to install a gold bug guy for the treasury secretary during his first term, but the financial lobby immediately squashed that idea?
It’s because it’s been too long since the last 2008-style crash and the ghouls are getting hangry for 401(k)s
