Saturday, July 5, 2025

Does anyone else have that 2008 feeling?

You would think following the implosion of the financial sector in the late 2000s, that the lessons of sub-prime lending by banks would have left a great enough imprint to halt such practices. Banks offered mortgages to unqualified customers and bundled those mortgages for sale as collateralized debt obligations, or CDOs. As we know, that blew up in their faces. Yet it is still happening, according to Frank Partnoy in The Atlantic. Partnoy, who worked in the financial sector, writes that this time around the loans are being made to financially strapped businesses. It could blow up again.

 

From <https://www.theatlantic.com/magazine/archive/2020/07/coronavirus-banks-collapse/612247/>

BIG Media
BIG Media
Our focus is on facts, accurate data, and logical interpretation. Our only agenda is the truth.
spot_img

BIG Wrap

Rwanda president warns against ‘tricks’ that could derail peace deal

(Al Jazeera Media Network) Rwandan President Paul Kagame has cautiously welcomed a United States-brokered peace deal with the Democratic Republic of the Congo (DRC), while...

Kyiv hit by barrage of drone strikes as Putin rejects Trump’s truce bid

(BBC News) One person has been killed and 26 others were injured after a night of intensive Russian strikes on almost every district in...