Most billionaires aren't billionaires in cash. If the market crashes, so do they. Now they might be reduced to "only" a hundred million or so but that can be catastrophic when your personal finances depend on billions in stock backing up a series of long term rotating loans.
They wanted to use the market to exploit the people. But that makes them vulnerable in a way rich people didn't used to be vulnerable.
That... is a very...VERY BAD IDEA.
Billionaires have enough money to survive an economic crash without batting an eyelid. Do you?
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