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>> I'm sorry to be so glib, but if the answer isn't as simple as "end bonuses", it also isn't as simple as "just let the banks fail". But there is a "simple" d

>> I'm sorry to be so glib, but if the answer isn't as simple as "end bonuses", it also isn't as simple as "just let the banks fail". But there is a "simple" difference between philosophies of how to address corruption in financial markets. >> And if tens of thousands of people lose their jobs because the corporate credit markets freeze and otherwise-profitable companies can't fund their day-to-day operations There is no way to avoid the day of reckoning. Don't pretend that any crises that were avoided in 2008 won't be that much larger when they eventually materialize.

drusenko 15y ago
>> There is no way to avoid the day of reckoning. That would be true if it weren't for the fact that a good bit of our economy relies on confidence and trust. Confidence that there isn't a huge recession or depression in the near future, and trust that others will remain in business if you deposit/lend them money/invest. So in a very real sense, a panic, even if it isn't based on anything fundamental, can set you back very significantly.