|
|
|
|
|
|
by jazzyk
1714 days ago
|
|
|
They were bailouts, because, without Fed's guarantees, no financial institution would loan money to most of these badly-managed, reckless corps. And they are doing the exact same thing again, knowing they will be bailed out again. "Profits for the taxpayer" - did you get a penny of the "profits"? The only people who profited were the executives of the bailed out companies - who deserved to lose their jobs, not double their wealth. |
|
|
Can you explain how they were rekless?
If i go to cassino and bet my life saving on black that's rekless. If I go to cassino and bet your life savings then 50% of times I am genius investor, or 50% of times i am really really sorry for your loss.
The problem is that those corporations are playing a game they cannot loose. Its only logical for them to push risk (therefore profits) more and more. They themselves created 'too big to fail' term.
I am not trying to make excuses for them, they are the people who captured regulatory institutions, and de-facto are self regulating - and in practice we all know where that leads. They are responsible for what happened and is happening.