Re:Urgent: Sign the petition now
by concinds on Saturday March 11, 2023 @07:41PM
(#35114847)
Yeah. It's completely financially illiterate.
In 2014, international finance authorities announced that there'd be no more bailouts. The future template is "bail-ins", where depositors' (yours and my) funds are used to make creditors (investors) whole. Bail-outs, the old template, required other banks (or governments) to dump money into distressed banks, and they decided they don't want to do that anymore. Now, failed banks will just take our money directly. That old TV slogan's been outdated for a decade.
People are their own worst enemies. They see governments and banks do bad things, but instead of educating themselves in technical policy details, they react emotionally and fall for slogans. How do these people think they'll "defeat" banks without understanding how banking works? Why in the hell do so many people confuse slogans for knowledge?
In 2014, international finance authorities announced that there'd be no more bailouts. The future template is "bail-ins", where depositors' (yours and my) funds are used to make creditors (investors) whole. Bail-outs, the old template, required other banks (or governments) to dump money into distressed banks, and they decided they don't want to do that anymore. Now, failed banks will just take our money directly. That old TV slogan's been outdated for a decade.
People are their own worst enemies. They see governments and banks do bad things, but instead of educating themselves in technical policy details, they react emotionally and fall for slogans. How do these people think they'll "defeat" banks without understanding how banking works? Why in the hell do so many people confuse slogans for knowledge?