By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026It's a way to eat your cake and have it too: even though you've reduced the likelihood that you'll have to write off your loan, you still charge the borrower as though that risk is unchanged. 10/ 3322
By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026As with so many aspect of finance, "innovation in lending" is a way to shift value from the financial industry's customers to itself. Remember the subprime crisis? 11/ 1454
By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026The whole point of collateralized debt obligations and swaps was to offer loans to people with bad credit - even loans they obviously couldn't pay back - without incurring a default risk. 12/ 1322
