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clock Created with Sketch. 14/03/23
07:19
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Originally posted by mbc:
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The bank assets were long term US government bonds, they have a face value, they are never worth zero unless the USA is bankrupt. The government didn’t cover losses of anything. This is absolutely nothing like subprime with the exception that banks are involved and in stress - the reasons are entirely different and the solution being rolled out is different.
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Also, the investors in those banks that get to access this - they get nothing, the banks are wound up so the share price goes to zero and they lose their entire investment — that’s perfect capitalism!
Last edited by
mbc :
14/03/23
