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by hga
4151 days ago
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Nit: in 2008 the US had both insolvency and liquidity problems. The former from the real estate bust, the latter from things like securitizing loans collateralized by said real estate, with the holders of and potential buyers for those securities just not being able to determine what they might actually be worth at the time. So e.g. TARP was explicitly sold as program to buy up those securities, wait for the dust to settle, and then sell them for what they turned out to be worth (that that sales job was a lie is another matter). |
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