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The problem with a public option in this case is that the investment arms of these banks aren't providing a service to anybody, they are profit-making instituti
by seldo 17y ago
The problem with a public option in this case is that the investment arms of these banks aren't providing a service to anybody, they are profit-making institutions in their own right. We the public are not "customers" of these banks, so we can't take our money elsewhere; they're using their own money.
The obvious government reform required here is stop lending the goddamn banks money at 0% interest.
- deleted 17y ago[deleted]
- cookingrobot 17y agoI agree, but I think the general assumption is that if we stop giving bailouts and 0% loans, then the banks would fail and bring down the economy. That's why we should have public banks ready to replace them.