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[+]nightjar0 points1 point1 point
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(edited ago)
[–]nightjar0 points
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(edited ago)
To be fair she makes a good point which is:
Why should the Federal Reserve bail out banks in order to preserve general prosperity but shouldn't bail out cities, states, etc.
The correct answer of course is that the Fed should never have bailed out the banks. They should have let the stock and bondholders rightfully lose everything, purchase the banks for pennies on the dollar, kept them running to keep the wheels of the financial system turning, and then sold them off once all the dust settled (for a large profit).
There is no logical reason why the Fed should bail out banks but not also bail out cities, states, etc.
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[–] nightjar 0 points 1 point 1 point (+1|-0) ago (edited ago)
To be fair she makes a good point which is:
Why should the Federal Reserve bail out banks in order to preserve general prosperity but shouldn't bail out cities, states, etc.
The correct answer of course is that the Fed should never have bailed out the banks. They should have let the stock and bondholders rightfully lose everything, purchase the banks for pennies on the dollar, kept them running to keep the wheels of the financial system turning, and then sold them off once all the dust settled (for a large profit).
There is no logical reason why the Fed should bail out banks but not also bail out cities, states, etc.