4 ms·
Banks had to repay the funds. A few banks went under before the government decided to intervene before it became an even bigger crisis. After that, banks faced
by dchftcs 4y ago
Banks had to repay the funds. A few banks went under before the government decided to intervene before it became an even bigger crisis.
After that, banks faced a lot more scrutiny and are still not allowed to take many big risks. Archegos was the worst thing that happened to a bank in the last decade. The market has been crazy in the past 2 years and no bank went bankrupt. If not for regulations instituted since 2008, there could have been a bank that went down like Maven Capital.
- roenxi 4y ago> Banks had to repay the funds. The banks should never have been in a position to repay those funds. Institutions that screw up that badly should be disbanded and replaced by someone completely different. Maybe swap the executive team and the office cleaners, I dunno. Anyone else. Totally different corporate culture. But, happily, whoever is unhappy about it can start looking to crypto to see if there are alternatives. I don't think there are yet, but an an economic cycle or two the whole issue may well be a moot point.