Related to the ugly "too big to fail" idea. No bank is, or was, or should be, too big to fail. This meme is nothing more than a justification for corporate welfare for bankers, and it encourages banks to behave in risky actions.
Anyway, it is a warning against many things: against the Fed, against bailing out/artificially preserving huge banks, and against nationalizing the banks/socialism.
Pretty much every significant economic downturn in American history has been caused at least in part by central banking and damned if it didn't take a European to predict it.
Related to the ugly "too big to fail" idea. No bank is, or was, or should be, too big to fail. This meme is nothing more than a justification for corporate welfare for bankers, and it encourages banks to behave in risky actions.
ReplyDeleteTypical big banker.
ReplyDeleteAnyway, it is a warning against many things: against the Fed, against bailing out/artificially preserving huge banks, and against nationalizing the banks/socialism.
ReplyDeleteGood stuff... Wise.
Pretty much every significant economic downturn in American history has been caused at least in part by central banking and damned if it didn't take a European to predict it.
ReplyDelete