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Because the bailouts were not offered to everyone? Banks should not get special treatment because they are "too big to fail". Additionally, banks do not actual
by newman314 11y ago
Because the bailouts were not offered to everyone? Banks should not get special treatment because they are "too big to fail".
Additionally, banks do not actually generate anything tangible of value. They literally use money from others to enrich themselves.
The banking industry is also what was pushed the Bankruptcy Abuse Prevention and Consumer Protection Act into play which is what makes it almost impossible to discharge your student loans.
https://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act https://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_an...
So yeah, between what I mentioned above and LIBOR manipulation, there's plenty to hate upon banks.
- bboreham 11y agoMany people find it valuable to be able to buy a home right away, rather than saving up for 20 years. Much of the modern world is impossible without financial instruments that let corporations borrow hundreds of millions of dollars. Airlines, for instance. So I do not think bankers do nothing of value.
- icebraining 11y agoThey literally use money from others to enrich themselves. From what I understand, they literally create money from thin air: http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf http://www.bankofengland.co.uk/publications/Documents/quarte...