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Originally Posted by LessinSF
Agreed that we should, and should have, let more shitty lenders fail. Rubbing out China was a joke, but I should have known you wouldn't see that.
I thought one of the points being made was attacking Britain's austerity program, which is not about inflation, it is about reducing their debt. And I was paraphrasing PM Cameron from yesterday on just that subject - "The one thing we mustn’t do is abandon spending and deficit reduction plans, because the solution to a debt crisis cannot be more debt.” http://www.telegraph.co.uk/finance/f...lls-0.2pc.html .
It may have been too subtle, though, since only I am being forced to watch the BBC to get my news.
LessinAswan |
I was relying on the BBC and ESPN Asia last week for my news, and I felt very subtle.
The problem with letting banks fail is that in comparison to other business failures, the effects are much broader. The banks are holding the money of a lot of other companies, and if the bank goes down with their money, it screws them up as well. This is why government officials are so much more apt to throw money at banks to keep them going, and why they ought to be regulated more in good times.
