The collapse was inevitable from "summary" of The Big Short by Michael Lewis
The collapse was inevitable. It was the result of a perfect storm of greed, ignorance, and unchecked risk-taking. Wall Street was like a giant casino, with traders placing bets on the housing market without fully understanding the risks involved. The subprime mortgage market was built on a house of cards, with lenders handing out high-risk loans to borrowers who had no chance of paying them back. These loans were then packaged into complicated financial products that were sold to investors around the world. Meanwhile, the credit rating agencies were giving these products top ratings, despite the fact that they were filled with toxic assets. The banks, eager to make a quick profit, continued to buy and sell these securities, ignoring the warning signs of an impending disaster. As housing...
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