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Banks invest the money too. Usually without the quotes.
by bagels 3y ago
Banks invest the money too. Usually without the quotes.
- matheusmoreira 3y agoYes. Banks too lose everything and go bankrupt. The difference is nobody goes to jail when they screw things up. Actually the government comes and actually bails them out with taxpayer money. Bank keeps all the profits and socializes all the losses. I love what happened to this Bankman guy. It's what I wish would happen every single time some banker screwed up with our money.
- bagels 3y agoOkay, one difference is that the guy put customer money directly in his own pockets. Most bank failures don't include such obvious incompetent fraud. I agree with you though, bankers that are doing frauds should also be prosecuted.