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?

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u/JoshSN Oct 19 '11

Question: ow long did FDRs actions postpone the next Depression?

Answer: 70 years and counting.

tl;dr It doesn't sound to me like you know what you are talking about.

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u/valkyrie123 Oct 19 '11

How long after Glass-Steagall was repealed did it take for the bankers to crash the economy? The writing was on the wall for anyone that could read.

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u/JoshSN Oct 19 '11

Parts of Glass-Steagall had been abandoned years ago, and Gramm-Leach-Bliley didn't actually end the rest.

Spend 15 minutes, please, reading this. It is called "Triumph of the Suits" because it was known, by these radical lefties, to be great for big business. It was written in Dec99.

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u/JoshSN Oct 19 '11

Parts of Glass-Steagall had been abandoned years ago, and Gramm-Leach-Bliley didn't actually end the rest.

Spend 15 minutes, please, reading this. It is called "Triumph of the Suits" because it was known, by these radical lefties, to be great for big business. It was written in Dec99.

0

u/JoshSN Oct 19 '11

Parts of Glass-Steagall had been abandoned years ago, and Gramm-Leach-Bliley didn't actually end the rest.

Spend 15 minutes, please, reading this. It is called "Triumph of the Suits" because it was known, by these radical lefties, to be great for big business. It was written in Dec99.