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Let's not forget that 10 years ago the largest banks all failed. [1] [1] https://www.investopedia.com/articles/economics/09/financial-crisis-review.asp#:~:text

• effingwewt 4y ago
  And many of us thought they should have been allowed to fail. Profits privatized, losses socialized. Banks are far from innocent, but let's not forget that crypto has been almost all scams (Im giving thr benefit of the doubt that there may be a legit one out there somewhere). They wanted decentralized, unregulated finance until the shit hit the proverbial fan. People invested for insane returns and were surprised pikachu face that they could possibly lose money. I've still got friends right now screaming 'get in while it's cheap!' edit to add- this is becoming the hot potato many of us saw Wallstreet pull before. who is gonna hold it when the music ends?
• alphabettsy 4y ago
  Maybe an important distinction that these were the largest investment banks and not retail banks. I want them to be allowed to fail. As I learn more I’m not so sure.
  • dehrmann 4y ago
    WaMu failed.
• dehrmann 4y ago
  Retail bank accounts are FDIC-insured. It was capped at $100k per account before 2008 (it's currently $250k), but spreading $177,000 across two accounts isn't a huge burden. Now for the Ukrainian, betting whether crypto or the hryvnia is more stable is an actual dilemma.