“We’re not supposed to point that out. And no “probably” about it.”
I was being gentle :)
That said, there’s blame enough to go around. Our elected officials and Goldman et al were both criminally negligent in bringing about the 2009 crisis.
That said, does anyone on the thread have any idea whether the $ amount of derivatives today are less, the same, more or a lot more than they were in 2009?
According to a Forbes article I found from 2013, quoting here..."derivative trading that now totals in notional amount more than $700 trillion. That is more than ten times the size of the entire world economy. Yet incredibly, we have little information about it or its implications for the financial strength of any of the big banks.
Source: Big Banks and Derivatives: Why Another Financial Crisis Is Inevitable