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You know whose money those failing banks have/had? Its hardly its own, nor investor's as much as you would like, its mostly regular joes. The same regular joes
by jajko 2y ago
You know whose money those failing banks have/had? Its hardly its own, nor investor's as much as you would like, its mostly regular joes. The same regular joes that screams 'eat the rich' and 'let them fail'. I wonder what would the same joe say if government listened and next day same joe would be without his pension or savings.
And as written by others banks do fail, and literally end their existence or are sold for peanuts to competition (Credit Suisse just recently). Using few cases from 2008 and making claims like whole universe always runs like that ain't very close to reality and doesn't help the discussion.