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The panic and economic damage from just Lehman Brothers failing shows that the fear was reasonable. Finance is as important as energy, communications and food
by rhino369 8y ago
The panic and economic damage from just Lehman Brothers failing shows that the fear was reasonable.
Finance is as important as energy, communications and food to the global economy.
I think the key is just making sure the bail out hurts nearly as much as actual bankruptcy.
- maxxxxx 8y agoI agree with you but there was a lot of talk about other approaches like nationalization but they got shot down quickly so the only path left was what the bankers wanted. I still find it hard to believe that the people that ran their banks into the ground walked away with hundreds of millions of dollars.