Why does it take a crisis for us to wake up and make changes?
Why does it take a crisis for us to wake up and make changes?
We’re too reactive as a society.
Only solving things when they become huge problems.
Why don’t we prevent them in the first place?
Wall Street will not be reformed until it causes the next global financial crisis.
And it has to be worse than the last one because we know nothing changed since 2008.
It’s gotten way worse.
The Fed has kept the money printer on for over a decade, mostly for the benefit of their ultra-elite banker friends.
We know Wall Street spent billions on lobbying fees to make sure a few of the reforms put forth after the Global Financial Crisis passed while most of them got taken out of the bills.
Obviously, they want politicians to believe that Wall Street can regulate itself.
But it can’t.
Repeat after me - Wall Street can’t regulate itself.
Wall Street can’t regulate itself.
Wall Street can’t regulate itself.
So whose job is it?
The regulators, aka the SEC.
Where do they get their funding?
Congress.
How are Congressmen put in power?
Wall Street.
Well shit.
Guess America is screwed then eh?
Yea basically.
Because the prisoners are running the prison.
And history tells us human behaviour doesn’t change.
Greed and fraud have existed since the dawn of time.
If you allow men to commit fraud multiple times while paying pennies on the dollar, obviously he will continue to do it.
It’s the cost of doing business.
But what if their prime brokerage departments blow up ala Archegos?
That’s a systemic risk to the system.
CAUSED BY THEIR OWN DOING.
THEY DID THIS TO THEMSELVES.
Remember when they try to spin the story in the media that it was all retail investors' fault that this crisis is coming.
Just wait.
Retail will be blamed for this crisis.
Guarantee it.
Only now we have the receipts.
Superstonk has a library filled with hundreds of intelligent Pulitizer prize-level articles written on all the corruption and fraud in Wall Street.
All backed with publicly available sources that will never get taken down.
Weaponized autism is an incredible force.
Never challenge the Internet.
EVER.
You will lose that battle every time.
Because the Internet never sleeps.
Wait so you’re telling me Wall Street is going to bring down the entire global financial system all in the name of greed, partly because hedge funds can cellar box and illegally naked short companies?
Yup.
Welcome to America where Wall Street runs the political system.
You can guarantee they’ll ask for a bailout and likely get it.
They’ll convince congress and the Federal Reserve that they’re an essential service.
Sure they are but only with massive structural reform.
Harsh penalties. Lifetime prison sentences for the worst offenders. Banned from trading FOREVER if caught. Clawbacks on bonuses. Limits on compensation.
Will any of that happen?
Unlikely.
But if we do get a massive depression ala the Great Depression, then the next president regardless of if they’re Republican or Democrat is going to have to reform the whole system.
Best of luck to them.
By then it’ll be too late.
The bankers have done their damage.
The head rats will have left the sinking ship with their millions and likely walk away without any penalty.
Meanwhile, the rest of the world will suffer at the hands of a few, all because regulators and politicians were asleep at the wheel.
It’s like the frog boiling in the water.
We’re boiling right now and Wall Street is lighting that fire.
By the time we realize we’re in the pot, it’s too late.
We’ll be cooked.
We’ll be too deep in the crisis thinking how could we have not seen this before.
But we could’ve.
We could’ve been proactive instead of reactive.
We could’ve foreseen the crisis and yet our leaders, politicians and regulators chose to do nothing.
They let themselves be run by the prisoners.
They let themselves get into a crisis before making any changes.
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