this post was submitted on 24 Jun 2023
100 points (100.0% liked)

World News

22059 readers
32 users here now

Breaking news from around the world.

News that is American but has an international facet may also be posted here.


Guidelines for submissions:

These guidelines will be enforced on a know-it-when-I-see-it basis.


For US News, see the US News community.


This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] furrowsofar@beehaw.org 10 points 1 year ago (1 children)

This was the whole cause of the 2008 financial crash.

[–] GreyEyedGhost@lemmy.ca 8 points 1 year ago (1 children)

And the 1980 crash, which lead to many banking regulations, which were removed shortly before the 2008 crash for stifling the economy. Stifling and stabilizing look very similar until you get to the negative parts.

[–] furrowsofar@beehaw.org 7 points 1 year ago

It is just the process of externalizing costs in internalizing profit. Get rid of regulations, take risks, make a lot of money, when the shit hits the fan say who could have known and get someone else to pay for it.