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I also don't think that "the smooth running of the financial system" is the most important responsibility Anyone old enough to live through the financial insti
by pohl 3y ago
I also don't think that "the smooth running of the financial system" is the most important responsibility
Anyone old enough to live through the financial institutions collapsing, one after another, like dominoes would probably at least concede that it is an important responsibility. No one likes to see those responsible get rewarded for their actions, but it sure is important to not let the patient bleed out on the table.
- kneebonian 3y agoThe way many people remember it is millions lost their homes and livelihood while the bankers who had made billions in bad loans got golden parachutes and bailed out, at the same time most people were wondering how they were going to eat. Honestly, things would've been rough, but I think they would've been better if we would've let the economy and the extra waste it has bleed like a stuck pig.
- pohl 3y agoHonestly, I was thinking older than that, like the S&L crisis in the 80s. What I remember most from the crash you referenced is that the Dodd–Frank regulations getting rolled back not long after. An ounce of prevention, ya know.