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Jonathan's avatar

Great point. The 'victims' of this bubble were people who made speculative investments in an experimental currency. Quite different than the last go-round, where many victims were merely home buyers.

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James B's avatar

Quite true about crypto buyers, but the "victims" of the home mortgage crash who knowingly bought way more house than they could afford (the McMansion-buying hairstylists and janitors Matt referenced in his article) shouldn't get a free pass.

Predatory lenders are evil, and especially insidious when they carry the name and trust of a well-respected financial institution. But people are responsible for remembering that if something seems too good to be true, it usually *is* too good to be true. Or, a fool and his money are soon parted. Or, there's a sucker born every minute. These are cliches for a reason.

With everything that was wrong about the 2008 crash, IMO the bank bailouts were the worst. Let these big banks go down in a glorious fireball of their own making, taking their C-suite stock options with them, and watch the industry work overtime to clean up its own mess to keep it from happening again.

Too big to fail? Too big to exist! If an institution's failure poses a systemic risk, then it needs to be broken up, not propped up! Fucking assholes!

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