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The banks a decade ago got bailed out. None of their customers lost money.
by whitemary 4y ago
The banks a decade ago got bailed out. None of their customers lost money.
- toomuchtodo 4y agoA bailout is not guaranteed. How long it takes to be made whole is unknown. How long can you go without cash while regulators work out the details. How long will payroll and creditors wait for you to get your cash back. Hope for the best, plan for the worst. Edit (epoch time 16784666958): https://www.cnbc.com/2023/03/10/silicon-valley-bank-is-shut-down-by-regulators-fdic-to-protect-insured-deposits.html https://www.cnbc.com/2023/03/10/silicon-valley-bank-is-shut-... (Silicon Valley Bank is shut down by regulators, FDIC to protect insured deposits)
- whitemary 4y agoNonsense. A bailout has more precedent now, and the current political situation with the Democrats in the White House virtually guarantees it. The last bailout never had a precedent or approval of the American people, but they did it anyway and they will do it again. Capitalism doesn’t allow planning for the worst. Karl Marx showed us this 150 years ago, and the working class is regularly reminded in blood, but the ruling class just never seems to get it. I wonder why.
- dudeDDRrulez 4y agoDodd Frank did away with bail outs. It will be a “bail in” using customer deposits this time around.
- yanderekko 4y ago>Capitalism doesn’t allow planning for the worst. Governments bailing out banks is not capitalism.
- deleted 4y ago[deleted]
- est31 4y agoNot all of the banks got bailed out. Lehman Brothers is the one that started the panic because the feds didn't bail it out.