3 ms·
> The TARP bailouts showed all of us that bailing out banks in bad situations does little to help the average citizen anyway. I'm not sure how one can make thi
by pgwhalen 3y ago
> The TARP bailouts showed all of us that bailing out banks in bad situations does little to help the average citizen anyway.
I'm not sure how one can make this conclusion without having known what would have happened if there was no TARP.
- mywittyname 3y agoBest case: another country steps in and buys up those assets at a steep discount. 2010-2020 plays out pretty much like it did before, but a foreign national bank is now a major player in the US mortgage market. Worst case: the contents of individual bank accounts poof out of existence. Riots and untold calamity ensues (it is difficult to say how bad this gets). Then another country steps in to buy up those assets at an even more steep discount. The subsequent housing crush the country is currently experiencing is worsened.