The banking sector would likely have blown up either way.
Too many problems and inadequacies worked together to push for a crash. The U.S. economy produces a crash on the astonishing rate of about every decade. It's simply not stable or well-managed.
The special role of the USD may be a hidden enabler for this, but I'm not sure. Maybe it's just plain old poor regulation and oversight, especially since the 80's.
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