So what happened - simple - one house - somewhere in the US had an actual drop in capital value - then the entire system devoured itself
. This self cannibalisation - was sped up/fuelled by the very paper fiddlers themselves.... when they began to bet on - negative equity.
Bang!!!!!!!!!!!!
Seems simple in hindsight.
Honestly one day - the next "revolution" - will be focused on such companies... however.... for the GFC... which has been so dam huge.... it really has been so hard to throw the first stone.... as everyone was caught up in the spiral.
However, as a double whammy.... the poor suckers - that watched the capital gain on their property - turn turn negative (meaning they lost everything).. are the same ones - who had to pay - via their taxes... to bail out the paper pushers - and they had to sit back - and watch this money being given - like presents - to those arrogant types - who created the mess in the first place.
Shit happens huh - but jeepers we really are like sheep these days..... we will grin an bear just about anything!