Author:
Simulacrum
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Date:
12/12/2018 9:45:11 AM
Subject:
RE: I remain interested in the 2008 bailout
Of course, this was more like a dead bear market or cemetery full of bear plague victims and mustard gas.
The problem was infection. Every institution was connected to everyone else. Investors were deserting at the slightest whiff of any change, whether they understood it or not.
Also, people assumed that Fanny Mae and Freddie Mac were government entities, backed up by the Treasury or something. They weren't. The closest thing to protection was AIG, so when it failed, you expected to see people jumping out of high rise windows.
It was a plague bear cemetery full of mustard gas and bear zombies carrying a strain of influenza that would turn you into a plague bear and then a bear flu zombie.
