• afraid_of_zombies@lemmy.world
    link
    fedilink
    arrow-up
    1
    ·
    10 months ago

    You got two explainations. 1 the banks didn’t know what was going to happen, despite all the obvious signs, in which case they have no idea what they are doing 2 they knew exactly what they were doing and engineered a crisis for a bailout and market dominance.

    So do you want your friends to be fucking morons or fucked up?

    • FuglyDuck@lemmy.world
      link
      fedilink
      English
      arrow-up
      1
      arrow-down
      1
      ·
      edit-2
      10 months ago

      or do you want to stop confusing issues here?

      '07-08 crisis is a fundamentally different scenario that built over time. The toxic assets totaled something like 1 trillion; they were built over time, and the problem rose when home values stopped going up. let me compare the orders of magnitude on the debt that caused that crisis vs this:

          1,200,000,000 (Kiyoski's debt)
      1,000,000,000,000 (Toxic assets in the great recession) 
      

      Do you see the difference now? It’s a nice whataboutism, but it’s fundamentally irrelevant. the only thing that’s going to get fucked is Kiyoski, and the people who work for him. The difference between a billion and a trillion is… about a trillion. more preciesly, .1%.