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Which it should be. The fact that it isn't puts all of us on the hook for the next $trn bail out, if we are lucky enough to see administrations that act fast en
by sgt101 6y ago
Which it should be. The fact that it isn't puts all of us on the hook for the next $trn bail out, if we are lucky enough to see administrations that act fast enough to do it and have the head room to do it.
If not, welcome to a real depression....
The truth is that as a society we can't afford this, and it is flat out negligent that we are being exposed to it. Of course the drivers are to cover up the realities of the exposures of certain institutions because they can't get out of their hole and don't really want to. Someone needs to get a grip on this and drive change in the real situation, the regulations and the culture much faster and harder.
- jeofken 6y agoNo law of nature says government should use tax money or print money to fund failing banks. Doing so is centrally planning banking, and almost be definition less efficient, just like central planning of any market (such as currency markets by way of central banking)