this post was submitted on 29 Apr 2026
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In 2007, investments in risky US mortgages went sour as homeowners struggled to pay. Funds run by Bear Stearns, BNP Paribas and other banks either had to freeze the ability of investors to take out their money, or liquidate the funds completely.

These problems were the canaries in what proved to be a very deep financial coal mine. As nervousness spread, even banks eventually stopped lending to each other for fear of not getting their money back, creating a so-called "credit crunch". That caused a global financial crisis.

Fast forward to today.

Several funds which lend money have declared losses or restricted investors' ability to take out their money. BlackRock, Blackstone, Apollo and Blue Owl have all faced demands for billions of withdrawals from private credit funds - institutions that provide an alternative to traditional banks.

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[–] RecursiveParadox@piefed.social 30 points 2 days ago (2 children)

I think this was the plan* all along. This is why all the techbros went fascist. PE was just more quiet about it.

The Epstein class wants a global crash so they can buy up what they don't already own for pennies on the dollar. Life becomes a subscription service supported by full governmental capture.

  • I don't think there was any actual conspiracy - the people all just saw the same opportunity to wreck things and jumped aboard the let them eat cake boat.
[–] Flower@sh.itjust.works 5 points 22 hours ago
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