Michael Lewis

But the alternative was so bad that they saved a lot of pain.

Yet the country's takeaway was we hate those institutions.

Like we don't trust them.

We trust them less and less.

The Federal Reserve's independence right now is being threatened as it's not been threatened maybe ever in its history.

I don't know, you can argue, but I think that's true.

The federal finances are so out of control.

I mean, seemingly, not only are we running these huge deficits, but we seem incapable of addressing them.

That's the thing.

It's like we just had an exercise, the Doge exercise, which was the most dramatic attempt to...

to cut the deficit that we'll ever see again, probably.

And the deficits have gone up.

So you've got this really unstable, the grownups in the room in 2008 who could stabilize a financial crisis are no longer grownups.

And the institutions that might come in and make everything calm down are getting less and less capable of doing it.

So I worry about not like, sure, there's gonna be a financial crisis somewhere.

It happens all the time.

Every 20 years or 30, it'll happen.

I don't know what will trigger it or why.

There are other stories but AI out there that might lead, but it's like, what do you do when there is one?

You want a title?