In 2008 "synthetic CDOs" destroyed the global economy, and now they're back

That, plus the fact we keep declaring certain institutions “too big to fail” so they get to externalize their downsides but keep all the profits.

C-suite execs doing hard time in federal penitentiaries, their personal fortunes confiscated, the businesses they managed broken up and sold off piecwise to more responsible owners.

We need something like the above, or we’ll keep having 2008s over and over and over again.

13 Likes