• maybe this time set some stringent clauses in the bailouts
    so the banks actually take a hit not just the people, they've been fucking us over for decades, and we've been bailing them out for decades

  • Banks don't need the bailout this time so won't be dothing their cap to beg for more from the taxpayer. They are being asked to defer interest and give payment holidays etc whilst getting access to cheap wholesale money from the central banks around the world including taking short term debt of balance sheets to pump more liquidity into the economy. These efforts are aimed at increasing the money supply not protecting banks.

    After the 2008 bailouts the banks increased the amount of capital they hold and BoE recently said that the banks under their supervision have sufficient capital buffer to withstand this global recession. They even cancelled the stress test that was supposed to be happening about now. https://www.bankofengland.co.uk/news/2020/march/boe-announces-supervisory-and-prudential-policy-measures-to-address-the-challenges-of-covid-19

About

Avatar for Ramsaye @Ramsaye started