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by SpicyLemonZest
4 hours ago
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I remember a meme that spread to that effect, but it was similarly divorced from reality. Hundreds of banks failed during the financial crisis, including multiple which were very large. There were a few cases like Wachovia, where an unhealthy bank was required to sell itself in order to avoid a technical failure that would have impacted over 10 million Americans' access to their money. But this was still unpleasant for existing Wachovia shareholders. |
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I remember robo signing of home foreclosures with no checks and people loosing houses despite paying debts.