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To blame interest rates for banks failing is pretty ridiculous. These giant monsters were shitty with their/our money.
by andirk 4y ago
To blame interest rates for banks failing is pretty ridiculous. These giant monsters were shitty with their/our money.
- lapcat 4y agoThe Federal Reserve is supposed to supervise and regulate banks though. It clearly failed there. (As did Congress, of course. Plenty of governmental blame to go around.)
- systemvoltage 4y agoEducate yourself on why banks are failing, particularly points 3) and 4): https://news.ycombinator.com/item?id=35255993 https://news.ycombinator.com/item?id=35255993
- andirk 4y agoI understand that even the safe bet is under water now, but that's a poor strategy to expect that for sure those bonds were safe. Is this true: any hike in interest rates since you bought the bond is usually bad? And they were bottomed out. Bunch of banks bought a bunch of super low interest bonds that can't even keep up with inflation. Cite: nothing
- deleted 4y ago[deleted]