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I'm not saying that it was done the right way (personally, I would have preferred to avoid the whole problem in the first place with better oversight, and if th
by MikeCapone 16y ago
I'm not saying that it was done the right way (personally, I would have preferred to avoid the whole problem in the first place with better oversight, and if that wasn't possible, at least give out very high interest loans that will make a profit for the taxpayers when they are repaid), I'm saying that there are thousands and thousands of companies and individuals that depend directly and indirectly on the big banks and on having functioning capital markets, and that if some of the big ones start to fail, most of them will follow suit (big and small) and they'll take down most of the rest of the economy with them.
If you disagree with that, please explain what you think would have happened if lots of big banks and insurance companies had failed.