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If you're not really having a good time, it's not worth it. ↗
#good time #having #having a good time #not worth it #really
Of course, in the United States, which at the time was a very young country, there were also class distinctions. They weren't as pronounced, but they quickly evolved as well. ↗
And so it can be very much in the interest of bank A to sell-short bank B shares, or buy CDSes on bank B, because they have exposure to bank B. It's the responsible thing to do as a fiduciary, and yet if everyone does it at the same time, it's destabilizing because everyone is selling. ↗
