Financial institutions were bailed out in 2008 to prevent cascading failures and a collapse of the global financial system. The bailout loans were paid back with interest. They should have never got themselves into that situation but hindsight is 20/20, and if anyone knew then what we know now, they would be extremely wealthy.
Financial institutions were bailed out in 2008 to prevent cascading failures and a collapse of the global financial system. The bailout loans were paid back with interest. They should have never got themselves into that situation but hindsight is 20/20, and if anyone knew then what we know now, they would be extremely wealthy.
True statement. However, we must ask ourselves, how did the people we entrusted with financial fiduciaries in this case...taxpayers....push the world economy to the brink? Did all whose lives were destroyed by poor leadership in the financial sector get government assistance? Probably, some kind, but big business and finance seem to backstop very stupid decisions with taxpayer money. They’re subsidized by our government anytime poor judgement is used. I feel odd typing this response because I’m not an economic populist.
Financial institutions were bailed out in 2008 to prevent cascading failures and a collapse of the global financial system. The bailout loans were paid back with interest. They should have never got themselves into that situation but hindsight is 20/20, and if anyone knew then what we know now, they would be extremely wealthy.
True statement. However, we must ask ourselves, how did the people we entrusted with financial fiduciaries in this case...taxpayers....push the world economy to the brink? Did all whose lives were destroyed by poor leadership in the financial sector get government assistance? Probably, some kind, but big business and finance seem to backstop very stupid decisions with taxpayer money. They’re subsidized by our government anytime poor judgement is used. I feel odd typing this response because I’m not an economic populist.