The global financial crisis occurred partly because regulations on banks and financial institutions meant to stabilize and protect the economy had been removed.

After the global financial crisis, new regulations were put into place to prevent another such crisis.

The Trump administration is moving to remove these protections opening up the economy and world to another massive global crash.

If you don’t know the ins and outs of the subprime mortgage crisis and the global financial crisis, you really should look into it. Basically greedy assholes on Wall Street took very high risk mortgages - packaged them into larger investment products - and then other shitty finance dicks used 401(k)‘s and client money and also company money, to invest in these loan packages - which included these extremely high risk instruments. The government had been pushing homeownership and so a lot of people that shouldn’t have been able to take on mortgages had them. When some of these people stopped paying their mortgages, these funds and companies lost hundreds of billions of dollars. It caused a cascading domino effect that resulted in millions of job losses and millions of people to lose their homes.

The global economy only recovered due to governments stepping in and shoring up businesses considered to be “too big to fail“ while also injecting massive capital into markets.

There’s a lot more to what happened but, big picture, removing these regulations will only help asshole bankers and wealthy parasites to even more money from the masses - all the risk will, again, be put on the workers and common folks.

We have to push back against this.

Originally Posted By u/WorkersUniteeeeeeee At 2025-05-15 09:07:48 PM | Source