Riding Unicorns to the Moon🔑 Jan 19
Replying to @CardanoDan @NickSzabo4
Hedge funds found an obscure niche where they could borrow short to lend long, pocket the difference, and then levered it up 10x. The trades predictably blew up, bank clearinghouses are on the hook, and the Fed is bailing them out with taxpayer money. Again.