Was it really that BAD?
Was it really that BAD?
Blake Williams
John Scott
I'll never understand how it was supposedly worse than the great depression but somehow we haven't seen even one tenth of the social impact of it.
Ryder Howard
It essentially destroyed what was left of western civilisation, so yes I would argue that it was catastrophic.
Isaiah Brooks
It was just the realization of the "markets" (aka public) that all our money were funneled into elaborate financial scams and luxuries for the rich instead of real financial development.
Now much of europe and lots of the US is gradually but steadily becoming 2nd world.
Elijah Price
>tfw you realize there are anons here too young to remember the financial crisis
Juan Reed
Show score?
Ian Nguyen
how old are you faggots? Three US banks went belly up and the FDIC had to step in to issue script to depositors. Pensions based upon ETFs inside those banks totally collapsed, and America's entire financial sector would have collapsed if the Fed hadn't stepped in to lump all the contagion into a single bank while TARPing/bailing out the rest.
It was massive, and the damage still hasn't been undone.
Zachary Thompson
>Now much of europe and lots of the US is gradually but steadily becoming 2nd world.
That has little to do with it, considering that the problems were much larger and began in the 90s. The basis of the 2008 crash was the response to the 2000 dotcom bust (Bush's Homeowner Economy, which built upon financial deregulation spearheaded by Clinton).
Jose Butler
And Millions of Americans moved to Bushvilles and Europe became fasicst. We didn't really get anything from it except the news and the media sperging about it.
Ethan Foster
Did the Obama administration respond correctly?