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"The middle class and non-connected sort-of-wealthy are the ones getting screwed by the bailouts." They're still better off with the bailouts than they'd be wi
by natrius 14y ago
"The middle class and non-connected sort-of-wealthy are the ones getting screwed by the bailouts."
They're still better off with the bailouts than they'd be without them. They'd be even better off if policies that prevented the necessity of bailouts were in place back then. I hope the policy changes since then have been enough.
- Lazare 14y agoENOUGH?! To a first approximation, there has not been one policy change in the US that will reduce the necessity of future bailouts. (Basically, the single overwhelming issue is "too big to fail". To the limited extent that this has been addressed at all by regulatory changes such as Dodd-Frank, it has been to make the problem worse.)
- natrius 14y agoCan you explain how the problem has been made worse? I used "hope" mainly because I don't know the details.