20 Nov 2022 4:33 pm
roadkill » 20 Nov 2022, 1:58 pm » wrote: ↑ "God's money"...He meant the intrinsic value. Precious metals have a usefulness...funny money does not.
Saving banks or any other businesses that aren't efficient is the opposite of capitalism.
It's also the fight between being practical and being idealistic. Perhaps there is some ideal that the banks should have been allowed to fail under the hypothesis that it is what should allowed to happen in an open market. There's also something to say about a global market crash that it would entail allowing that to happen. Lehman Brothers was also allowed to fail so that is pretty much the manner in which the US government dealt with it.
Nothing is easier than defending the status quo.