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sometimes i wonder how many versions of myself i’ve outgrown without even noticing. i look back at old photos and remember the thoughts i used to carry, the dreams i thought would save me. it’s strange how you can live inside yourself every day and still not realize you’re evolving. it’s only when you look back that you realize how far you’ve come, how many lives you’ve already lived in the same skin.
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Just a reminder.
The thing that was frustrating with the "CS as Lehman" meme is just that a really big cause of the Lehman collapse/all of the GFC was immense, complex, unregulated counterparty risk that was marbled throughout the entire financial system. Nobody knew who owed what to whom, and it was suddenly deeply plausible that many large, cornerstone institutions could be truly insolvent.
Many of the regulatory changes after the GFC can be characterized in any number of ways, but the "big scary opaque counterparty risk" thing really has gone away post-Basel III et al. Nobody should be (or needs to be!) relying on rumors and Twitter accounts or even equity prices to signal on this stuff in the way that we had to pre-GFC.