2026-09-15 13:12 UTC
Wall Street and the 2008 Financial Crisis (2008 to now)
Some of the world's biggest banks packaged subprime mortgages into collateralized debt obligations (CDOs), sold them as investment-grade with the help of credit rating agencies, bet against their own customers using those same instruments, and ignored warnings about a housing bubble.
Replies (1)
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@joecardillo@federate.social 2026-09-15 13:13
When the market crashed, Big Banks not only received massive bailouts, they shaped the writing of consumer protections rules and anti-trust guardrails – including Dodd-Frank, the Consumer Financial Protection Bureau, the Volcker Rule, stress tests, etc.