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Joined 2 years ago
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Cake day: June 30th, 2023

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  • Though it was one of the least responsible ways to save it: handing a blank check to the ones that made the bad gambles in the first place. They didn’t even have anyone go and look at what was being done with it. It might have been one of the biggest wealth transfers in history. Plus it set a precedent that the government will step in to limit risk, which encourages more of this shit.

    Though at least they didn’t do the same to bail out the shortsellers that were getting squeezed for GME and those other meme stocks a few years back (which could have also broken the economy). There was fuckery, but it wasn’t “the taxpayers will pay your bills when you lose big while you proportionally pay less than most of them when you do win”.


  • Though Obama did team up with Bush to ensure the banks that caused it were bailed out quickly. This happened sometime around nov or dec 2008, after Obama had been elected but before he was sworn in.

    And it was changes made during the Clinton presidency that allowed so many high risk mortgages to exist in the first place.

    Not sure if the approval to bundle them together and call them lower risk was a Bush era thing or came from before that.

    But even if the timing of the recession had started in 2009, it would have been something Obama inherited from Bush and Clinton. He only controlled his response to it (which wasn’t great, as that money was used to allow banks to pay bonuses and buy up foreclosed properties while people laid off for no fault of their own lost their homes).












  • Neither do the two gravity wells the stick spans. And the earth and moon are moving relative to each other, someone would probably get their head knocked off by that stick. Before it eventually falls to the earth with quite a bit of force because earth’s gravity well will win. Then it’ll eventually settle into a giant teeter totter, assuming it is rigid enough to survive the impact.