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Originally Posted by sebastian_dangerfield
I’m not one of those saying the banks were gifted money. I fully realize that they were merely failed businesses which deserved to collapse which were given lifelines thousands of other businesses failing at the same time were not.
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Yes, the failure in your analysis is in appreciating that banks are different from other businesses.
And, in fact, the fact that they paid all that money back with interest at least somewhat undermines the argument that they were all failed businesses. Turns out those assets weren't all completely worthless after all.
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Those who are supposed to die and be eaten by their betters
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But they were eaten by their betters. There's no more Wachovia, Washington Mutual and a bunch of others. Much more so than other industries, failed banks get literally taken over by other banks that aren't failing.
