The Rewind: Global Financial Crisis
The Memo by Howard Marks
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The Race to the Bottom
We came close to a collapse of the modern financial system. We turned around and went on an unprecedented run where we started to repeat all the same things that led to that situation. The government doesn't have the ability to do what it did back in 2008 and 2009 because it already fired those weapons. And firing them again, I think, would only make the situation worse.
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