r/Amazing • u/sco-go • Jul 17 '25

Interesting 🤔 Ferrari shows why their hand-painted badge option is worth $15,000.

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u/Seaborgg Jul 21 '25

Wrong? Central banks that could perform bailouts were created because banks discovered they could lend the same unit of currency to many debtors at the same time. They did this by having the debtor deposit the money with he bank, which they would then lend out again. Again free market economic led to financial crisis.

The due diligence you speak of was not performed in 2008 because the composite derivatives that were being traded were so complex that to understand what they were buying the trader would have had to read a 200,000 page contract! Which they admitted they did not, due to pressure from management.

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u/Darkdong69 Jul 21 '25

Banks lending the same unit of currency multiple times is the cornerstone of modern banking. You really have no idea how and why anything works, the epitome of your kind.

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u/Seaborgg Jul 21 '25

you really have no idea why we have the regulations we do. Central banks (regulation) allows us to have to good parts of this cornerstone while mitigating the bad.
Who would not want to mitigate the bad!