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re: Would We Have Been Better Off If The Gov't Let The Banks Bottom Out, Not Bailing Em Out?
Posted on 5/15/17 at 9:05 pm to TigerFanInSouthland
Posted on 5/15/17 at 9:05 pm to TigerFanInSouthland
I think the rational was to prevent another great depression.
2
Posted on 5/15/17 at 9:07 pm to ksayetiger
Problem is, a lot of smaller banks didn't survive & the free market took a hit.
Big banks took our tax $, acquired their competition, & resumed gouging consumers even more after. As close to socialism as I've seen in action on that scale here.
Big banks took our tax $, acquired their competition, & resumed gouging consumers even more after. As close to socialism as I've seen in action on that scale here.
Posted on 5/16/17 at 9:39 am to ksayetiger
quote:
I think the rational was to prevent another great depression.
Yep. The powers that be felt the world was on the edge looking down.
Depressions suck. I listen to my grand parents and their friends talk about their lives during the Great one. Not a happy place. WW2 was the kicker that got us out of the Great one. The destruction of so many world's economies/productivity capacity lead to the rise of the USA in the 50s and beyond.
I don't think today's USA population is ready for something like that. I mean, with technology and instant news, the panic effect would be a tidal wave. I can easily see the next big Depression having some serious short-term effects. Big riots in major metro areas. Shortages. etc. These events would fuel further insurrections and a possible snowball effect.
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