The Real Culprit Behind the Banking Crisis
Stansberry Investor Hour
00:00
The Socialization of Losses
As a result, these nonconformist status quo seekers tend to end up piling into the bubble assets at the time. They become very dependent on the government and even more so with the great financial crisis in 2008. So you have banks that are playing with other people's money. And it's a heads they win and tails, they get bailed out and the losses are socialized.
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