With everyone and their grandmother opining on the 10 year anniversary of the start of the global financial crisis, it was inevitable that the strategist who predicted the great crash (and according to some has been doing the same for the past decade) – SocGen's Albert Edwards – would share his thoughts on what he has dubbed the “10th anniversary of chaos.” In it, the SocGen skeptic slams the trio of Bernanke, Geithner and Paulson who have been not only penning op-eds in recent days, but making the media rounds in a valiant attempt to redirect the spotlight from the culprits behind the crisis, writing that “they just never recognized beforehand that the economy was a massive credit bubble, just like it is now” and points to central bank arrogance as the “main reason why we should still be scared.” Of course, just like 10 years ago, as long as the market keeps going up, nobody is actually “scared” and instead everyone is enjoying the ride (just as the legion of crypto fans who are no longer HODLing).

Below we excerpt some of the observations from Edwards' “A thought on the 10th anniversary of chaos” Central Bank arrogance is one of the main reasons why we should still be scared.

Apparently, they always need more tools.

And I also remember Shelia Bair, who headed up the FDIC (the Federal bank liquidator) at the time, and had successfully seized and closed many banks during that period, including the massive Washington Mutual, lamenting that she had not even been consulted about Lehman's.

Speaking last year at Grant's conference, Fisher offered a commanding critique of the crisis-era response led by the authors of the NYT op-ed.

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