One point to take about the share thing is that Trump has, as far as I know, removed many checks and regulations that should and could have prevented this - and the 2008 crisis.
It has been mentioned for some time that a similar crisis to 2008 was looming. The current economic problems are mostly due to covid, but it can get worse. And let's hope this reddit share mini crisis will remind the new administration of the need to replace those regulations. And the public that they are needed.
www.investopedia.com/ask/answers/063015/what-are-major-laws-acts-regulating-financial-institutions-were-created-response-2008-financial.asp
prospect.org/economy/trump-s-assault-financial-reform/
From the link above:
Since taking office, the Trump administration has set about dismantling the core pillars of financial reform by:
· lowering capital requirements;
· weakening stress testing and living wills;
· allowing more proprietary trading;
· enabling more unregulated derivatives dealing;
· rolling back consumer and investor protections;
· reducing prudential regulation of systemically significant banks;
· neutering the regulation of systemically significant nonbanks and the shadow banking system;
· defunding research and monitoring of the financial industry; and
· stopping enforcing the laws, if not actually siding with the predators.
While all are important, the deregulation of systemically significant nonbanks is worth singling out, because it illustrates the Trump administration's sheer recklessness. This will recreate the two-tier regulatory system that incentivizes and rewards regulatory arbitrage and a bailout culture. The implications for financial stability are immense.