people need to realize that there are boom and bust in business cycles just like oil in the 70's and real estate. banks screwed up bad by having too many bad loans and scammed by mortgage scams etc. derivatives were the weapons of mass destruction as Buffet warned in 2003. derivatives were a ponzi scheme and muscial chairs and when the music stopped. all the players couldn't find a seat. banks will still be around and won't go bankrupt and there will always be demand for cars. but the banks and car industry won't be the same after industry restructuring.
Indeed....derivatives are weapons of mass destruction......However I did not know Buffet said such a thing. Can you find a link for it??