subprime

Subprime 2.0 has manifested, and crypto’s the culprit.

One doesn't need to know all the intricate finance lingo about "subprime mortgages" and investment "bundles" to understand why we must keep regulators in power who will prevent such shenanigans in the future.

It was established in 2011 as part of reforms after the upheaval of the Great Recession in 2007-8, which was triggered in part by a crash in the US subprime mortgage lending market.

If you thought the housing market of the early 2000s was a bubble, backed as it was by worthless subprime mortgages, wait until you see the crypto bubble.

Both Obama and Biden were confronted with historic economic meltdowns, thanks to the subprime mortgage financial crisis and the mismanaged pandemic, before they even walked into the Oval Office.