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We did let the first bank fail, it nearly broke the global economy and it was one of the smaller ones. That's why the other banks were bailed out.
by gnaritas 10y ago
We did let the first bank fail, it nearly broke the global economy and it was one of the smaller ones. That's why the other banks were bailed out.
- cookiecaper 10y agoHow does it break the global economy? Without the failed bank, there will be no more demand for the labor performed by employees? No more demand for products from customers? People will say "That bank closed up, better stop making things and being productive, time to climb in a hole"? It's confusing when people conflate the prosperity of the ruling financial elite with the "global economy".