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> Then, when the system finally imploded and people could no longer make their mortgage payments, the taxpayers bailed out the banks that were making money hand
by OnlineGladiator 7y ago
> Then, when the system finally imploded and people could no longer make their mortgage payments, the taxpayers bailed out the banks that were making money hand over fist.
I'm not happy about what happened either, but what do you think would have happened if none of the banks had been bailed out?
- larrik 7y agoNot OP, but at the time what I personally wanted to happen was the government to bail out the customers, but not the banks themselves. Basically let the institutions implode but not let depositors foot the bill. Clearly a pipedream, though.
- linuxftw 7y agoProperty prices would have deflated back to affordability. People with lots of debt would have been crushed, people with little debt would have made a killing. We finally could have clawed back the economy from the banking class with widespread bankruptcies. Could you imagine if 30% or more people had a bankruptcy recently? It would totally wreck the credit bureaus too.
- jdkee 7y agoIn exchange for the bailout, the bankers should not have received bonuses and the equity stakes should have been wiped out. And stronger regulation put into place.