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A comment on 2020 Stock Market Crash. Parent comment

Re:2020 Stock Market Crash by blobbers on Monday March 16, 2020 @01:33PM (#22595021)
It's going to be the financial crisis all over again.

Ppl default on loans because they lack cash flow

banks didn't account for this with lax lending standards

banks go bankrupt but TARP style program bails out banks

hopefully people stay in their homes ...somehow. (some kind of mortgage payment moratorium?)

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Re:2020 Stock Market Crash by vsareto on Monday March 16, 2020 @01:43PM (#22595169)
>banks didn't account for this with lax lending standards

Pretty sure the ratings fraud got fixed. Also pretty sure they didn't just go back to handing loans out to anyone with a pulse. I'm sure there's some crazy intricate financial instruments made up of dogshit still around, but it's probably going to be a smaller percentage of the bank's balance sheet.

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Re:2020 Stock Market Crash by a_t48 on Monday March 16, 2020 @01:38PM (#22595090)
We need a mortgage and rent payment moratorium nationwide if the majority of the country is expected to just stop working.
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Re:2020 Stock Market Crash by KaoruAoiShiho on Monday March 16, 2020 @01:36PM (#22595068)
Banks are fine now dude, it's nothing like 08.
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Re:2020 Stock Market Crash by blobbers on Monday March 16, 2020 @05:11PM (#22597870)
Just wait.

Canadian banks have been hit hard due to falling oil prices and expected resultant bankruptcies.

American banks will get hit by rising unemployment.

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