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I don't understand why they bailed out the banks in '08, it wasn't fair to citizens who were in debt because their houses were underwater, just not fair at all.
tbh 15 years later I wish they let the banks fail. It would have been a pretty terrible 10 years, but I think by now we'd have a functioning world better suited for today's generations/problems.
Didn't Iceland actually jail the bankers?
Don't buy into the propaganda. There was never going to be a big crash. They would have taken a small hit and FDIC would have insured every deposit. The big banks had already unloaded the mortgage backed securities into pension funds.
But but what about Lehman Brothers? Yeah what about them? The CEO alone took a +600 million dollar bonus they year it was going "bankrupt". They can't stay open but gave him over half a billion? I don't think so. Bankrupt for normal people means rice for dinner for years, for the big banks it means they just don't feel like "working" anymore.
What should have happened is jailing the lot of them, a foreclosure freeze across the US for a year, replenishment of Pensions from AIG and Goldman and Lehman executive salaries, and finally a requirement that everyone that is to be evicted be given a court appointed attorney who has the same case load as the bank's attorney.
@afraid_of_zombies @foggy
I wanna know who in the SEC allowed mortgage-backed securities to be sold in the first place.