NJ5 on 05 July 2009
| kowenicki said: @nj5 it isnt about trusting banks anymore or letting them go under because its what they deserve... you cant cut of your nose to spite your face. we HAVE to support the banking system worldwide or it is game over! |
It's not about what banks deserve. The main issue is to force banks to reveal their bad assets before government throws good money after bad. That's what Sweden and Japan did to solve their banking crises and it worked. Everything else failed, it just delays the problems at great cost to taxpayers.
You're just parroting the position of the politicians and central bankers who want us to believe big banks can't fail. I still haven't seen any reason why bailing banks out without auditing them is the correct solution. So please share those reasons if you know them.
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