mrstickball on 04 November 2009
But here's a question:
What exactly would we have lost if the banks went under?
It's not like every single bank participated in the atrocious behavior, and sold so much toxic assets. Many were left unscathed. Furthermore, the toxic mortgages would not have been forfeited and the houses would have been given to the bad purchasers for free. The debts would of been outstanding, still. Other banks would have come in and bought the toxic assets at discounts (as they always have done) and banks would have actually learned a lesson.
Back from the dead, I'm afraid.
