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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 9:07 pm to ksayetiger
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.
3
Posted on 5/15/17 at 9:15 pm to AjaxFury
quote:
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
Oh, I agree completely. I just said what the rational was.
Posted on 5/15/17 at 9:21 pm to AjaxFury
quote:The banks were loaned money which they repaid at market interest rates which actually reduced the federal deficit.
Big banks took our tax $, a
A couple of the banks also issued stock warrants to the fed government (Citibank comes to mind) which the government eventually sold at a pretty good profit for taxpayers.
Posted on 5/16/17 at 12:01 am to AjaxFury
could have let AIG die. not even an USA company.
could have let all the banking companies with HQ in Caymans and Switzerland die too.
I would say that saving the US auto industry was a win.
could have let all the banking companies with HQ in Caymans and Switzerland die too.
I would say that saving the US auto industry was a win.
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