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Finance sector is 40% of US GDP so while it's cool to throw around theoretical "solutions" they would need to account for this simple fact. So let them fail was
by qaq 9y ago
Finance sector is 40% of US GDP so while it's cool to throw around theoretical "solutions" they would need to account for this simple fact. So let them fail was not a realistic solution.
- pjmorris 9y agoFree-market fundamentalism, as I have advocated for above, may be too much to ask of capitalism. I do think it's fair to ask whether US citizens, who have been asked to spend Trillions on the 'free market's' behalf (see the Fed's balance sheet pre- and post-crisis [0]), were best served by the way in which it was done. Keeping housing prices high and the existing management in place was not the only way to use those new funds. [0] https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm https://www.federalreserve.gov/monetarypolicy/bst_recenttren...