Mango
"so your saying gov intervention is good? and people should be bailed out for not doing due diligence. .... So i make an investment... don't do my homework company/bank goes under and i turn to the gov for help??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? there is no element of responsibility here."
It is what it is.
I asked a question. If you had $200k in, say, CBA, and there was a 'whiff' of a 'collapse', would you bail out?
Would you stay if there was Gov guarantee?
Why should my taxes bail you if you didn't do 'due diligence' and find out where CBA invests your money?
Gov intervention is used when the everyday person, who is not expected to know where CBA invests their weekly deposited wage or life savings, is going to feel the pain more than CBA who has limited liability.
Bail and then make sure they pay back, with interest.
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