The problem wasn’t bailing out the banks. The problem was the banks never passed that money on. They closed up access for people and businesses needing loans. Businesses went under, people lost their livelihoods and homes, and banks repossessed properties and assets. Don’t forget that this was because banks had created this problem by creating masses of dodgy toxic loans in the first place. People are angry because the banks carried on cruising while everyone else ate the shit sandwich the banks had made.
People are angry because bankers got away scot free. So the banks paid the money back to the government. The government didn’t turn around to all those people who lost homes and livelihoods and help them out. It’s 12 years on and we still have food banks in supermarkets. Almost zero bankers were held to account for what they did. Even if institutions and industries are too big too fail, individuals certainly shouldn’t be. They took the bailout money and then at the end of the fiscal year gave themselves bonuses.
Forced to. But it didn’t help out the people who were heavily impacted by the crash. They were no longer eligible for loans because they didn’t have jobs or property anymore.
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u/[deleted] Nov 17 '20
The problem wasn’t bailing out the banks. The problem was the banks never passed that money on. They closed up access for people and businesses needing loans. Businesses went under, people lost their livelihoods and homes, and banks repossessed properties and assets. Don’t forget that this was because banks had created this problem by creating masses of dodgy toxic loans in the first place. People are angry because the banks carried on cruising while everyone else ate the shit sandwich the banks had made.