VAULT DWELLERS SERVED

Friday, June 21, 2013

Intervention Saved The Banks in 2008

If they hadn't covered the bank losses, all the banks could have gone broke.

Oh god please no. A world without bankers. Imagine.

1 comment:

styrac said...

http://en.wikipedia.org/wiki/Kevin_Phillips_%28political_commentator%29

"Nothing similar had ever been engineered before. Instead of a recovery orchestrated by Congress and the White House and aimed at the middle- and bottom-income segments, this one was directed by an appointed central banker, a man whose principal responsibility was to the banking system. His relief, targeted on financial assets and real estate, was principally achieved by monetary stimulus. This in itself confirmed the massive realignment of preferences and priorities within the American system…."

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