06/25/2026
A core philosophical axiom mentions the Principle of Cause & Effect. Every Cause has its Effect; every Effect has its cause.
Following the Exxon Valdez disaster, accountability became a financial liability. As a result, financial firms got creative with lending mechanisms that redistributed risk and seeded the beginnings behind the 2008 market collapse.
JP Morgan invented credit-default swaps to give Exxon credit line for Valdez liability – ThinkProgress
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