loosecannon
Senior Member
- May 7, 2007
- 4,888
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What do you think would have happened if the big banks had failed? Think it wouldn't have impacted every single one of us far more than the current situation has? Because it would have been horrific, Care.
how do you know that? I mean, you don't, can't know that. It's like what would have happened if Japan didn't attack Pearl harbor. Any answer will be pure speculation.
Of course we can know. We can use the lessons of history - and look at what happened around the world back over centuries of financial failures. And when you look at what happens when one bank, with no international reach, collapses.... and then factor in the links from bank to bank, from bank to business, from bank to ordinary people..... you can see what would have happened. It would have been far, far, far worse than it is. Ask any economist - anywhere in the world.
that is all conjecture, and the status of our financial system in 2007 really is remarkably different from any other example in history.
You simply have no real idea, just a guess.