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A comment on Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC. Parent comment

Re:Joint Statement by the Department of the Treasury, Federa... by sumedh on Monday March 13, 2023 @01:06AM (#35131340)
> I'm glad they were all saved.

You are glad that rich execs play Heads they win and Tails they dont lose game at the expense of the taxpayer?

[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by CydeWeys on Monday March 13, 2023 @01:18AM (#35131411)
This is not what happened to plane/automobile manufacturers. The banks, you could argue yes. But these were collateral damage.
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Re:Joint Statement by the Department of the Treasury, Federa... by twblalock on Monday March 13, 2023 @02:53AM (#35132041)
Taxpayers aren't paying for this, and in 2008 the government actually made money on the bailouts, so taxpayers didn't pay for that either.
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Re:Joint Statement by the Department of the Treasury, Federa... by TurkishPoptart on Tuesday March 14, 2023 @02:17AM (#35147994)
How come this won't cause inflation? That hurts taxpayers.
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Re:Joint Statement by the Department of the Treasury, Federa... by sumedh on Saturday March 18, 2023 @02:02AM (#35206552)
There was no guarantee that the govt will make money but there is a guarantee it creates a moral hazard. If you are a banker take excessive risks and enjoy the profits, if things go wrong, the govt will bail you out.

Heads I win, Tails I dont lose.

You also ignored that govt/Fed keeps printing more money, so the taxpayer ultimately loses with inflation.

[ Parent | on HN ]