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It might be time to nationalize every bank that received a "bailout" from taxpayers. Too Big To Fail means Too Big To Exist. Where's Teddy Roosevelt when you
by brothermouzone 12y ago
It might be time to nationalize every bank that received a "bailout" from taxpayers. Too Big To Fail means Too Big To Exist. Where's Teddy Roosevelt when you need him.
- allendoerfer 12y agoDidn't they receive the bailout in form of an investment by the government, effectively nationalizing parts of them?
- aet 12y agoThey received loans, which they have paid back. https://projects.propublica.org/bailout/ https://projects.propublica.org/bailout/
- allendoerfer 12y agoIn Germany and Spain Hypo Real Estate and Bankia indeed were nationalized due to the crisis. In the US AIG, which is on that list, was nationalized [0]. I thought the others were as well. [0]: http://en.wikipedia.org/wiki/American_International_Group#Liquidity_crisis_and_government_bailout http://en.wikipedia.org/wiki/American_International_Group#Li...
- sacado2 12y agoThis was downvoted while there was an interesting point made. Suppressing cash means you no longer own your money. You only own credit lines to a private institution that can fail (and that charges you money when it doesn't). This is a stronger change than it seems. If some deposit banks are public, at least you can have your money labeled as government debt (which it already is when you hold banknotes).