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Why does the government & media get away with using words like "contagion"? If a single bank failure were to precipitate the collapse of the US banking system
by sidewndr46 4y ago
Why does the government & media get away with using words like "contagion"?
If a single bank failure were to precipitate the collapse of the US banking system as a whole, this isn't a contagion. It is the reality of the insanely fragile nature of US banking.
- AmVess 4y agoThey are calling it such because contagions spread. Tomorrow is going to be a bloodbath.
- sidewndr46 4y agoAs it ought to be. Idiots gave some idiots money who banked said money with idiots. The answer is not for the government to step in and rescue the idiots. The idiocy will only proliferate when that happens.
- hello_moto 4y agolove the simplistic world of view of an HN reader against a financial institution that has been in business for 40 years....
- AmVess 4y agoYou mean the business that is now out of business and needs many billions in bailout cash. THAT business?
- hello_moto 4y agoYou ran a bank before? You better hope people don't lose confidence on their Bank by Monday.
- AmVess 4y agoThe people running SVB seem to never have run a bank before. Do you know how I know that? THEY ARE OUT OF BUSINESS BECAUSE THEY FLEW IT INTO THE GROUND.
- hello_moto 4y agoLove the simplistic views of avg HNers
- christophilus 4y agoThe media does it because sensationalism is the only thing they know. The non-sensationalist outlets went out of business a long time ago. Turns out, facts don’t sell newspapers. The government is the same, except they are looking for votes, not sales. They have to convince you that they’re doing big, important things, and that their opponents are commie/nazis who want to kill God/send us back to the stone ages. Also, there’s a little risk of contagion, so… it isn’t totally wrong to talk about that. My cynical 2 cents. It explains almost all of the silly behavior I hear about from my more political friends.