VW squeeze: short positions that cannot be closed, because more stocks where sold than where supposed to exist. Same thing for Gamestop (except worse, 220% shorted at some point).
2008 crash: packages of high quality mortgages / credit that turned out to be backed by 0 high quality mortgages.
FTX scandal: sold tons of "Bitcoin" that turned out to never have existed + traded "tokenized stocks, backed 1-by-1 with real stock by some shady broker in Germany" that turned out to be a complete lie.
Literally every US financial crisis can be summarized as "it turned out not to be backed by anything". More info: https://www.amazon.com/Decade-Armageddon-New-Geography-Essay...
VW squeeze: short positions that cannot be closed, because more stocks where sold than where supposed to exist. Same thing for Gamestop (except worse, 220% shorted at some point).
2008 crash: packages of high quality mortgages / credit that turned out to be backed by 0 high quality mortgages.
FTX scandal: sold tons of "Bitcoin" that turned out to never have existed + traded "tokenized stocks, backed 1-by-1 with real stock by some shady broker in Germany" that turned out to be a complete lie.