MrAnderson on Nostr: This reminds me of the beginning of the 08 financial crisis when Bear Stearns and ...

This reminds me of the beginning of the 08 financial crisis when Bear Stearns and Merrill Lynch started wobbling. History always has a way of rhyming.

quoting
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"The ideal financial system is not one with better regulators, more honest bankers, or smarter central bankers. The assumption that human institutions, given sufficient trust, can manage money without corruption is contradicted by every century of recorded history. The ideal financial system is one that requires no trust at all, where the rules are enforced by physics and mathematics rather than by people who can be pressured, bribed, or frightened."
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