I have no idea Warren was a key player during the 2008 financial crisis. How did that happen?
As I was reading I had it in my mind that the point in all these was that all scammers hate BTC and these scammers harass their friends on the whatapps calling them idiots. I was wrong.
It never happened. The crisis was caused by banks, who used the opportunities created by fractional reserve, mortgage-backed securities and collateralized debt obligations, which secured an infinite free money supply for mortgage loans. By issuing loans to whoever wished, they blew a bubble, which eventually burst.
Buffett, on the contrary, warned his shareholders in 2003: “Derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal,” which actually shows that he foresaw the crisis.