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I don't really want banks to get bailed out for making bad choices, but the details of this feel different than 2008 when it was pure greed and fraud. In this
by fallingfrog 4y ago
I don't really want banks to get bailed out for making bad choices, but the details of this feel different than 2008 when it was pure greed and fraud. In this case, a lot of businesses (depositors) that did nothing wrong and were acting in a responsible manner by putting money in the bank for payroll and stuff like that suddenly stand to lose everything. I think protecting those organizations is a good idea.
Economic damage has a huge domino effect- the economy is just a big network of relationships, and those relationships take time to establish and can fall apart instantly.