EdwardBaiamonte
Platinum Member
- Nov 23, 2011
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When you guarantee the banks will be bailed out because "if we don't he world will end", then of course the banks are not going to be a prudent.
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lets not forget our banks were not really bailed out. They quickly paid the money back. Many went bankrupt and many that survived or merged saw stockholder value wiped out completely! Lessons were learned for sure and if there is a next time the lessons will be even harsher still so I"m not worried at all.
the worry in America is not that banks will be bailed out but that people will be bailed out and never pay back a penny. Thats where the real moral hazard is!!