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I've thought for a long time - it doesn't matter if these banks broke the law - they tried to fly to high and broke a lot of citizens. I'm not a fan of governme
by HighPlainsDrftr 11y ago
I've thought for a long time - it doesn't matter if these banks broke the law - they tried to fly to high and broke a lot of citizens. I'm not a fan of government bailouts. But if it happens, they should split the bank up into smaller pieces; ban the management from working in the industry as management again, and give the new remaining company a bit of support to get going again.
Bailouts shouldn't come without a price to pay to the people involved.
- crdoconnor 11y agoThat's basically how Sweden responded to their banking crisis.
- knight17 11y ago"This Scandinavian nation of 9 million people has accomplished what the United States, Britain and Japan can only dream of: Growing rapidly, creating jobs and gaining a competitive edge. The banks are lending, the housing market booming. The budget is balanced." http://www.washingtonpost.com/business/economy/five-economic-lessons-from-sweden-the-rock-star-of-the-recovery/2011/06/21/AGyuJ3iH_story.html http://www.washingtonpost.com/business/economy/five-economic... Do you have any other suggested reading on how Sweden go about doing this?
- knight17 11y agoYes; like the article says it is justified for the same heads that get bonuses to get the penalties too when things go bust.