Comment by lenerdenator

> Wasn't that the root of the 2008 crash? The debt spiral was acceptable because people were making enough money in the present that regulators were powerless to advise against it. In a sane world people often go to jail for decades when doing this at pennies on the dollar.

I mean, yeah, but at the same time, and?

The lesson learned from 2008 was that no one was going to do anything of consequence to degenerate gamblers who kneecapped a generation's economic prospects. Then, in 2024, we doubled down on that position.

The behavior will continue until an effective consequence is introduced.