200 upvotes, 2 direct replies (showing 2)
Correct.
"The big short" is a fun film about an aspect of that.
Comment by vaga_jim_bond at 27/01/2021 at 18:56 UTC
11 upvotes, 1 direct replies
I love when goldmen sachs about laughed christian bales character out of their office and then said, well ok if you want to lose your hedge funds money...
For anyone who hasnt seen it, christian bale plays the guy who originally found the huge bubble the real estate market was sitting on and started betting against it.
Their hedge fund was so far down the investors were basically calling for his head, and then they all wound up insanely rich off millions of americans losing their homes to banks.
Comment by Torque-A at 27/01/2021 at 04:15 UTC
-10 upvotes, 7 direct replies
I see.
Can we just get rid of the stock market, then? It already caused a Great Depression before, so why risk doing it again? We can just find another way to fund startup companies, like through Kickstarter or gladiatorial combat between investors.