Ex-Goldman CEO Lloyd Blankfein sounds alarm on private credit — warning it ‘smells’ like 2008
Former Goldman Sachs CEO Lloyd Blankfein has warned that the growing private credit market could lead to a financial crisis similar to the one in 2008, potentially affecting retail investors and th…
Every time Republicans deregulate the financial market, this happens. Finance is a cancer on the economy. It legalizes gambling, gives billions to Jewish criminals, and produces nothing of value. Disgusting.
There's nothing wrong with loans failing. Deregulation is good in this regard. The problems only stem from government interference that prevents people and companies from going bankrupt due to the mistakes they made.
The question isn't whether we can endure wild boom and bust cycles. It's what benefits we get out of them, which, historically, has been "sociopaths get rich" and "materialism destabilizes society." It's not worth it.
The government interference is not worth it and dramatically harms our advancement.
The "bust" part of the cycle isn't worth it either. That's my point.
The bust is worth it. This is how the market ensures people who make bad decisions get what they deserve. It's equitable is what it is. Without the bust (government interference) our society allocates resources towards inefficient and less productive ends.
People can make bad decisions without being allowed to speculate and financialize. Glass-Steagal and other restrictions on investment banking were completely justified.
We shouldn't be restricting what people can or cannot do, especially when we still allow these things but only if the people are rich enough (very unequal playing field in this regard). The government shouldn't exist to protect the public from themselves.
Sounds like they're setting the foundation to regulate the private credit sector the way in which they want while also getting the government to bail out the bad loans they made.
Not a surprise. A lot of them don’t know how to run the business’ they acquire and then either sell off anything of value and bolt or run it into the ground with stupid decisions.
Except we're in waaaay worse shape going into this one.
Trust the plan it’s NESARA guys 🤤🤤🥴