Softbank doesn’t.

What’s fun is now you can stick it to a bank easily by taking out all your money and investing it yourself. Make money off your own money. Cuz they sure do when they have it. (Hence the wait time when withdrawing large amounts)

Lots of trade apps out there now. You only need banks for holding small transaction amounts for paying bill. Soon they won’t even be required for that.

Like the article says, their internal risk management models are telling them to get the risk off their books.

Taking on the debt in the first place is like agreeing to store a gallon of milk in a fridge for an undetermined amount of time. The milk is going to go bad, and when it does the jug (or bag) might explode forcing a cleanout of the fridge, throwing out other things in the fridge, and maybe replacing the fridge altogether if the milk leaked down into a lot of crevices. Everyone knows the milk will go bad, but the big banks will know how old the fridge is, what coolant it uses, how old the compressor is, how many times a day the fridge has been opened, the average time it stays open, the dairy the cow who produced the milk, and the name of the cow if they can get it. The milk is going bad quicker than expected, and they’re finding out they don’t want to be the ones to guess when the jug will explode, and they’re also finding out that nobody else wants to buy the jug.

Oracle pulling a “god did it” was probably a part of this, but nobody involved is going to give a real answer.

No they can’t do it forever. Exponentially growing demands outrun everything eventually. The onl, way out of this are either controlled deflation of the bubble or a hard crash. The former is possible but unlikely.

I suspect this might be worse due to the amount of money being thrown around. As much as I want the companies responsible for the stupid bubble to go bankrupt, there’s a lot of money from pension and investment funds, so that’s going to hurt a lot of people who had nothing to do with that.

www.wheresyoured.at/credit-crunch/

Also like the 2008 housing crash.

My youtube algorithm

Why are you deliberately living in a bubble that shows you what you want to hear? Like I have a cousin convinced for years that either the US or China is >6 months from total economic collapse, because that’s their algo is showing them reinforcing narratives they want to hear.

I’ve been reading, “the end is near,” since HIV/Aids, y2k, 9/11, the SARS outbreak, the anthrax scare, the swine flu/h1n1 and the several evils outbreaks. Oh yeah all those wmd scares and the potential for a world War after 9/11.

The end is always fuckin’ near

Bad tech rapidly became a central pillar to that buying/selling and everyone is realizing it may be worthless.