So basically the same exact shit as the 2008 crisis is happening but this time with Corporate Debt instead of Housing Debt. The parallels are absurd. Banks are massively exposed to CLOs (bundles of shitty corporate debt rated AAA) instead of the CDOs (bundles of shitty housing debt rated AAA).

TL;DR: BUY BITCOIN

Ref: https://www.theatlantic.com/magazine/archive/2020/07/coronavirus-banks-collapse/612247/

submitted by /u/shmopshmopshmop
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