Re:AI boom risks global financial crash, warn central bankers
by peterbecich on Monday June 29, 2026 @04:35AM
(#48716442)
The narrative of the Big Short omits something big i.m.o.: encouragement of easy mortgage lending standards by Washington politicians. Is this line about the SEC the only reference to government in the movie?
Re:AI boom risks global financial crash, warn central bankers
by dqv on Monday June 29, 2026 @06:38PM
(#48726276)
But that just goes back to the banks again. Why did the Washington politicians encourage easy mortgage lending standards? Lobbying by big banks. https://scholarship.law.gwu.edu/faculty_publications/1301/
In a similar vein with CAFE standards: why were those loop holes introduced? Lobbying by the auto industry.
Just kidding.
Banks took the money the American people gave them, and they used it to pay themselves huge bonuses, and lobby the Congress to kill big reform. And then they blamed immigrants and poor people, and this time even teachers. And when all was said and done, only one single banker went to jail."
Edit: I see I'm not the first to quote The Big Short in reply - such a good movie (and book)!