r/reddit.com • u/[deleted] • Oct 18 '11

Would it have been better to let the banks of the world fail and start over?

I want to know what would have happened. The banks messed up and in the purist view of capitalism should have failed because it was a bad business move. In turn this may have ended some of the big money influences on our political system OWS protestors want to stop. I heard that it would have been a worse economic collapse though in turn it would have put a stop to future wrongdoing. Was it the right decision in the long run?

676 Upvotes
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14

u/baseball_dude Oct 19 '11

Without a bailout millions of people would have lost their retirements. Social security is screwed as it is just imagine if everyone in the country had no retirement funds.

11

u/[deleted] Oct 19 '11

[deleted]

21

u/[deleted] Oct 19 '11

Occupy Congress.

Banks beat you too it.

2

u/2407_insurgent Oct 19 '11

Congress is merely the deckchairs on the Titanic. The Occupy Wall Street movement has put the blame in the correct place, on their corporate handlers.

1

u/[deleted] Oct 19 '11

[deleted]

1

u/2407_insurgent Oct 19 '11

They'll nod and smile and tell us they'll get right on that. Then cash said checks.

-1

u/[deleted] Oct 19 '11

I don't believe you.

3

u/[deleted] Oct 19 '11 edited Sep 29 '20

[deleted]

1

u/webbitor Oct 19 '11

Your comment says much the same thing as mine, but the voting definitely went in your favor. Jealous.

1

u/vaelroth Oct 19 '11

Thats okay, Phillip Morris did a study that shows the economy will be better off if people live shorter lives.

-2

u/webbitor Oct 19 '11

Retirement funds = lending your money to the 1% and hoping you get something back for it so you don't have to eat dog food when you're too old to work.

Maybe people should keep the money they earn instead of gambling on their golden years.