Homeowners were oversold by realtors & banks, hoodwinked into thinking they qualified for loans they weren't qualified for with rubber-stamp approval processes obfuscated by opaque "credit scores" and ultimately blamed for "living beyond their means" when CDOs & MBSes tanked.
Banks got bailed out as a result. Wall Street execs got bonuses. Nobody got punished for one of the largest financial crimes perpetrated on a global scale. But workers lost pensions & retirement funds. Evictions spiked. And borrowers were blamed.
And time and time again the capitalist class insisted it was the natural state of things because they should have "understood the risks."
Now when a notoriously risky short position is obliterated by other investors, the entire financial apparatus is scrambling to stop it.
this is extremely funny & the inevitable aftermath will be the country's wealthy elite—the same people who didn't give a shit as millions of people got fucked over in 08—clamoring for more safeguards on the market to prevent this from happening again bc this time it affects them
we're about to see a chorus of financiers, wall st ghouls and likely some members of congress feign outrage that our market, our sweet, precious market, was manipulated (!) by a bunch of redditors! nevermind that in 08 the people who manipulated the system got fucking BAILOUTS!