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The whole industry didn't fall. It was about a dozen extremely large insitutions, and the extremely small institutions that depended on that group. There were
by jimminy 16y ago
The whole industry didn't fall. It was about a dozen extremely large insitutions, and the extremely small institutions that depended on that group.
There were institutions in the middle who weren't involved in the mess. See BB&T, as an example, they were actually forced by the government to accept a bailout, as to make it seem like the whole industry failed.
- javert 16y agoAgreed. The whole industry bailout was a huge punishment to BB&T, which otherwise probably would have profited tremendously from taking over much of the business of the failed banks.
- benohear 16y agoBy the way, as I understand it, there's a difference between "the whole industry" and "the industry as a whole"