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A comment on $3B in Bitcoin was sold in a last-ditch attempt to save UST from collapse. Parent comment

Re:$3B in Bitcoin was sold in a last-ditch attempt to save U... by vkou on Monday May 16, 2022 @10:08PM (#31405301)
The FSL crisis was caused by wild-west deregulation, accounting practices which have since been banned, and resulted in a thousand convictions.

The crypto space is repeating all the same bullet points, except with more outright fraud, with less accounting, and without any convictions.

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Re:$3B in Bitcoin was sold in a last-ditch attempt to save U... by jpmattia on Monday May 16, 2022 @10:22PM (#31405394)
> The FSL crisis was caused by wild-west deregulation, accounting practices which have since been banned, and resulted in a thousand convictions.

I'm guessing you did not live through it: Like 2008, there were many causes. See eg the wiki: https://en.wikipedia.org/wiki/Savings_and_loan_crisis#Causes

But you also missed the heart of the matter: Money that was lost in the US, despite it having a regulated banking system.

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Re:$3B in Bitcoin was sold in a last-ditch attempt to save U... by JumpCrisscross on Monday May 16, 2022 @11:06PM (#31405631)
> was lost in the US, despite it having a regulated banking system

This is a straw man. Nobody claimed nobody in a regulated system ever loses money.

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Re:$3B in Bitcoin was sold in a last-ditch attempt to save U... by jpmattia on Tuesday May 17, 2022 @08:54AM (#31409807)
> Nobody claimed nobody in a regulated system ever loses money.

Only if you read the above questions literally and miss his meaning:

> Into a mess for who? Depositors?

> Could you summarize how much money depositors across the entire United States lost to bank busts over the past, say 40 years?

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Re:$3B in Bitcoin was sold in a last-ditch attempt to save U... by JumpCrisscross on Tuesday May 17, 2022 @09:17AM (#31410096)
The S&L crisis was a “crisis” because non-bank S&Ls lost money in a way depositors haven’t. You have still not pointed to a single American depositor losing money since 1982, though I’d extend that to the post-War era.
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