Pretty soon, stocks and savings were almost inconsequential.
They were doing fifty, a hundred, two hundred billion in mortgage bonds and dozens of other securities a year.
And America barely noticed that it's number one industry became boring old banking and then one day, almost thirty years later, in 2008 it all came crashing down!
Bear sterns was in a death spiral and the fed brokered it's sale.
In the end Lewis Rainier's mortgage backed security mutated into a monstrosity that collapsed the whole world economy and none of the experts, or leaders, or talking heads had a clue it was coming.
And I'm guessing most of you still don't really know what happened.
Yeah, you got to have somebody to repeat so you don't sound dumb, but come on Our financial institutions are strong!
But there were some who saw it coming.
While the whole world was having a big old party, few outsiders and weirdos saw what no-one else could.
Not me, I'm not a weirdo, I'm pretty f***ing cool, but we'll meet again later!
These outsiders saw the giant lie at the heart of the economy and they saw it by doing something the rest of the suckers never thought to do.
They looked through the nineteen thirties The housing market collapsed... Nationwide.
By approximately 8 percent.
And halve of all .. Eh... worries that... It wasn't default.
There were.. Very... Specific identifiers.
Extremely recognizable.
Wait... for instance w-w-w-w one of the hallmarks of mania.
Is that rapid rise and complexity, and the rates... they are fraud-ed did you know... They're going up!
I've always been.. More comfortable..
When alone.
I believe... maybe... it's because of... My glass eye.
