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Because the alternative is further spread of the contagion, leading to systemic bank failures. Not to mention the possibility of mass layoffs this week when pay
by tjohns 4y ago
Because the alternative is further spread of the contagion, leading to systemic bank failures. Not to mention the possibility of mass layoffs this week when payroll can't be processed.
Nobody wants any of this. It's a small price to pay for keeping the economy from imploding.
- mimikatz 4y agoSure, maybe it is prudent to do. We are bailing out people with extra insurance on money that was not guaranteed to be insured. We are given them free money to make them whole and we are going to let banks sell 75 cents for a dollar to the fed if they really need the cash. If this is the right thing to do lets' talk openly and plainly about it.