The scale of the #AI #buildout is absurd and now being #securitized:

"These arrangements transform rather than eliminate risk. Moving assets into separately financed vehicles can raise leverage..."

https://www.brookings.edu/wp-content/uploads/2026/09/4c_Van-Nieuwerburgh.pdf

Where've I heard this story before? I recall something about how #mortgage-backed #securities became magically risk-free, then everyone put so much money into them, then... anyone remember 2008? Could we at least agree to not bail them out this time? That worked for #Iceland