Quote:
Originally Posted by ThurgreedMarshall
I don't think that's how it would work. If the next bank fails, there's a run on banks. If multiple banks fail, the money is gone, not just the CDOs and credit default swaps. The banks used your money to gamble on those products. And the FDIC wasn't created to insure every person's money from every single bank. And if the US system goes down, the world system goes down.
TM
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I think it would have been cheaper in the long run to make every pensioner, homeowner, and small business whole.
And we would be reading about Jamie Dimon going to jail instead of reading
this.
