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The Fed, by it's own admission, saved the world from financial Armageddon during the last crisis by acting as a lender of last resort to many a large financial
by dismal2 10y ago
The Fed, by it's own admission, saved the world from financial Armageddon during the last crisis by acting as a lender of last resort to many a large financial institutions. They also had private meetings with banks to try and stabilize the markets.
Whether they went too far with their monetary policy is something that we will only find out with time, but there is nothing conspiratorial here.
- jazzyk 10y agoNot conspiratorial, but the government picking winners and losers is certainly ripe for abuse. The government's job is certainly not to use taxpayer's money to support businesses who made poor decisions (started with LTCM' bailout in 1997). The justification is always one of "saving the financial system from collapse", yet nothing was done since 2008 to break up the "too big to fail" entities.