Quote:
Originally Posted by Tietäjä
Sure. And some of the banks would've gone insolvent without these funds. The problem generally is, that an poorly run bank going default can cause a chain reaction which ends up with healthy banks being victims of an assault too, which is part of the reason why the EU, the UK, and the US have all been keen on defending the banks. Case 1929-1933 is good for this.
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Sure but implying all these companies are inefficient or otherwise incompetent is just untrue. Which was my point.
I like how Tactitus speaks of "powerful interests". "Powerful interests" rarely ever get hurt in any end-of-the-line fashion. Because they're powerful. The ones who get hurt are the ones who aren't powerful. This is why people accept bailouts. Because they believe that sooner or later they end up jobless and on a bread line wondering what the **** they did wrong and it's easier to pay an extra 1% of your income in tax and avoid that.