It’s amazing to me how the government has forced socialist programs onto private sector financial businesses and then make the incredulous claim the “capitalism” has failed.
Rise lather repeat.
Failure = more regulation, more state power.
I would not blame the government. Rich people had huge amounts of extra capital and were faced with very low returns in normal investments. It is not surprising that they sought to make big profits through what is essentially loansharking. I would like to get 10% on my investments too, but always thought this was not a good way to do it.
Bingo!