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Keeping it in perspective though, the 2006-2008 crisis had our banks eating up, over three years, an entire year's worth of GDP in government bailouts (includin
by einhverfr 13y ago
Keeping it in perspective though, the 2006-2008 crisis had our banks eating up, over three years, an entire year's worth of GDP in government bailouts (including secret federal reserve bailouts). And that was damage reduction.
I am not saying things would not be bad if, say, BCA and similar banks were to collapse here in Indonesia. If they did, the corporate world here (including the toll roads) would be sorely hurt. And people would lose savings. And much more. However, there are catastrophes and there are catastrophes. I am hard pressed to imagine a case where the results would be worse than the 2006 crisis in the US.