3 ms·
How was the GFC worse? Not in unemployment rate. Not in losses to bank depositors, either. (As a kid, my mother lost money in a bank that went down in the Gr
by AnimalMuppet 7mo ago
How was the GFC worse? Not in unemployment rate. Not in losses to bank depositors, either. (As a kid, my mother lost money in a bank that went down in the Great Depression.) Not in business bankruptcies.
In what sense was the GFC worse?
- fragmede 7mo agoIt was worse because we bailed out the banks, because they were too big to fail, teaching them the lesson that they can do stupid shit and not really pay and consequences. There's no number on that to compare to a different situation, but thems the breaks.
- AnimalMuppet 7mo agoIn at least some of those cases, the shareholders got nothing. We bailed out the depositors.