Author:
Simulacrum
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Date:
12/12/2018 10:04:51 AM
Subject:
RE: I remain interested in the 2008 bailout
I think of 2008 as an economic Cuban missile crisis.
The ironic thing about both situations was how information was managed. In the missile crisis, things could have been fixed sooner with more information. In the financial crisis, things could have been fixed sooner with less information. Too much data was traveling at excessive speeds, resulting in a situation that couldn't be clearly communicated to Congress or the public. All that information moving at such high velocity couldn't be sorted in the language of Joe Walmart or Bob Congress. Even the people who understood it couldn't translate it into an English that didn't sound like self-interest and scammery. It was the perfect Wall Street storm.
