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A comment on The Saudis Are Lying About Their Oil Production?. Parent comment

Re:The Saudis Are Lying About Their Oil Production? by tatersolid on Wednesday September 25, 2019 @06:07PM (#21076117)
> What started the mortgage defaults though?

Good old-fashioned fraud. Oil prices had nothing to do with it.

Source: acquaintance who spent three years in court testifying about the rampant fraud in the mortgage industry. He worked for an investment bank which is no longer with us.

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Re:The Saudis Are Lying About Their Oil Production? by BlueTemplar on Thursday September 26, 2019 @05:09AM (#21079373)
I'm well aware of the structural fraud. My point is that the reason that the bubble popped at that point (and not some years later) were the skyrocketing oil prices, themselves a consequence of (conventional) peak oil.

But I guess that it's a bit academical, as that bubble would have popped soon enough anyway...

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