Banks are now trying to offload the AI data center debt they just underwrote - Startup Fortune
startupfortune.com
Banks including JPMorgan and MUFG are shopping AI data center debt tied to Oracle as credit default swaps spike and bond order books thin out.
  • DickFiasco@sh.itjust.worksEnglish
    132·
    9 days ago

    My favorite quote from The Big Short:

    In the years that followed, hundreds of bankers and rating agency executives went to jail. The SEC was completely overhauled, and Congress had no choice but to break up the big banks and regulate the mortgage and derivatives industries.

    Just kidding. Banks took the money the American people gave them, and they used it to pay themselves huge bonuses, and lobby the Congress to kill big reform. And then they blamed immigrants and poor people, and this time even teachers.

      • kreskin@lemmy.worldEnglish
        191·
        8 days ago

        I thought his biggest failure was his raining hellfire on whistleblowers, kids protesting, and immigrants, but I’m willing to debate this. The real sting is that we had such high hopes and we got …that, instead, and then Biden after. I was so happy when Obama was elected the first time.

        • jason@discuss.onlineEnglish
          13·
          8 days ago

          2009 should have been the end of trying to “reach across the aisle.” 2010 should have been the end of the filibuster.

        • bedwyr@piefed.caEnglish
          6·
          8 days ago

          I never had high hopes, sadly I called it.

          For the most part, as usual the democrats did even worse than I thought they would, but I also called that, but they did worse than even I knew they would do worse.

    • Rhaedas@fedia.io
      231·
      9 days ago

      Dr. Burry! If the investors withdraw, what’s gonna happen here? Are we done?

      Honestly, I don’t know! The… the… The bonds aren’t going down! They won’t move! It’s possible that we are in a completely fraudulent system.

      Or… you’re, you’re wrong.

      Sure! It’s possible, I just don’t know how!

    • bedwyr@piefed.caEnglish
      9·
      8 days ago

      They blamed all the foreclosees loudly and publicly despite it being their own fault, while they got bailed out on our tax dollars. Insult to injury the rich blaming the foreclosees hardly even pay any taxes.