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My wife’s a hopeless radlib, maybe demsoc. I am very open about my politics and she doesn’t care for the most part. I have tried to convert her but she’s got somelib hangups and can’t accept the historical necessity of violence. so we mostly agree until i say some
shit, then she just sighs and calls me crazy. love her
while losses like these are large and indicative of poor lending practices for mortgages, there was more at play for the 2008 market implosion. It wasnt just defaults on mortgage-backed securities, but the widespread failure (fraud imo) of rating agencies giving these MBS good ratings, the trillions of dollars of derivatives betting on those false ratings, and the failure (fraud imo) of regulatory bodies to identify and mitigate any of this. A mortgage crisis is surely happening but i doubt the fallout will be anywhere near 2008. but i stopped paying attention to financial regulatory policy in the early trump years after he undid the measly measures obama put in place post-crisis so your guess is as good as mine