• EatTheLibsToo [comrade/them]
    ·
    4 years ago

    The scale of counterparty risk within the dogshit CDOs combined with the sheer volume of them in 2008 is orders of magnitude larger than this though. A flash crash wouldn't come close to bringing about the change prophesied by the people claiming it's all coming down

    • congressbaseballfan [she/her]
      ·
      4 years ago

      Right; that’s why I’m saying it would be a flash crash, it would cause temporary panic, but then there’d be a bailout and it would bounce back, unlike the systemic unraveling of 2008

      • EatTheLibsToo [comrade/them]
        ·
        edit-2
        4 years ago

        I was responding mainly to the part in your first comment about it not being an unreasonable take and I misinterpreted, I didn't realise you were talking about what Goldman said. Sorry, I must have jumped to it cos my tolerance for bad takes on the GME stuff is wearing super thin - I'm in a group chat containing some right wing fuckheads and call options and market crashes are their new favourite things to talk absolute bollocks about, so this week has been non-stop cringe and wanting to scream