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kerbs | 3 years ago

The part of the housing crash that I was inferring was hidden to most was how deep the credit markets were tied up in housing, to the point where a housing bust meant banks collapsed and all money was frozen.

I was young(ish) at the time, but I imagine some knew housing wasn't sustainable. I'm not sure there were many outside the stars of The Big Short quite knew how vulnerable the entire banking system was because of housing before it all came down.

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