2 ms·
That wasn't just a short term fix though, they changed the entire banking system and solidified the concentration of wealth into a small group of megabanks by i
by dmix 1y ago
That wasn't just a short term fix though, they changed the entire banking system and solidified the concentration of wealth into a small group of megabanks by introducing new rules that killed off most of the competition from smaller/medium sized banks while the larger ones got floated cash, so they could merge into even bigger ones instead of dying off due to their own poor decisions/misbehavior. That sort of thing always has ripple effects over the long term.