Message from @Scarlet
Discord ID: 471055067290664971
If it was only a couple wouldn't be as bad
This is also why banks are supposed to be responsible though
"supposed to be"
banks in general are responsible cuz they can't afford to lose money
Unless they get bailouts
yes thats the issue
if the state covers them they can be reckless
Too big to fail is a scam
It's not a scam, it just means they're too big. If they're too big to fail they should be broken up.
It means they get bailed out on the taxpayer's dime when they fail
tehn tehy didnt fail did they XD if they got bailed out
Well if they didn't fail where did the money go?
they failed, and in order to not cause so much chaos, the government uses tax money to cover the losses so the company can try again
yeah bullshit liek if it was a gouvt intisution
You can always fail
You cannot be too big to fail
Most of the banks that were "too big to fail", and investment companies? Yeah, they had to get bailed out.
Mostly because they had all of the retirement funds for the government employees
So of course they too OTHER people's money to save their money
They do have to pay back the money
YEAH woudlt want them defaulting on all the loans they gave out
I mean the bailout, the bailout was a low-interest loan.
the gouvt woudl essentially turn into a communist regeime with all teh buisnesses theyd own from collecting that defaulted debt
the problem is that it encourages risky behavior
What Lastson said
yeah for real,, risky buisness
Yes, like i said, i still really dont like it.
If theyk now they're just gonna be bailed out if they fuck up, they can just take any risk, no loss
you can't subsidise reckless behavioru and hope people get more responsible
Just want to disspell the conception that it was money just tossed at them.
tbh, the bailout should be both refunded AND come with interest given back to the people
for the banks screwups
wasn't there slight interest on it?
not good enough, I want free money! 😛
It does have interest, (Quite low though, 1-2% a year, only equalizes inflation)
I don't think it was enough interest to even mitigate inflation
Did it equalize it?
It was a little under inflation in practice i think
ok