NY Fed rescues overnight lending market with $53B

Re:NY Fed rescues overnight lending market with $53B by bwanab on Tuesday September 17, 2019 @05:31PM (#21000286)

Presumably it's because if a bank goes under, the economy can quickly nosedive (see 2008). If you can't get lunch, you're hungry for a couple of hours, but the world pretty much goes on unscathed.

It's hard to make analogies between household finance and corporate/national finance. Modern finance is a huge and complex topic. If you haven't and are interested, start with some basic economics, then move on to more focused topics.

[ Parent | on HN ]

Re:NY Fed rescues overnight lending market with $53B by bcrosby95 on Tuesday September 17, 2019 @05:37PM (#21000343)

There's a middle ground between making it impossible for certain private companies to fail (basically turning those industries into a permanent oligarchy) and saying "fuck it, let it burn".

[ Parent | on HN ]

Re:NY Fed rescues overnight lending market with $53B by isostatic on Tuesday September 17, 2019 @05:43PM (#21000391)

As the income and wealth disparity, between people and between generation, the number of people thinking "let it burn" increases. A lot.

This is then multiplied when those people are those who actually do the work. Rich people in retirement homes can't get their stocks and 401ks or whatever to wipe their asses.

[ Parent | on HN ]

Re:NY Fed rescues overnight lending market with $53B by kortilla on Tuesday September 17, 2019 @06:11PM (#21000605)

It’s not impossible for these companies to fail. Banks have failed over and over even since the crisis.

[ Parent | on HN ]