$700 Billion bail out, can I vomit now?
You know you hear Lehman Bros. and all this crap. It's ridiculous. FrannieMay and FreddicMac should NEVER have been bailed out. They should've been allowed to default.
No offense but as a bank it's your feduciary responsibility to make conservative and reasonable calculated risks. The subprime nonsense was neither, it was money shifting. These banks should've defaulted and then the FDIC paying out the $100,000 guaranteed in those accounts people put money in. Anything more nothing. You lost, tough shit. This is what you get for taking risks, especially one's that are just scams.
As for the rest of the banks that have participated, the same. It's on you too. If this was a regular person practicing such reckless behavior we wouldn't look the other way and even recompensate them. The insanity of this is just so blatantly obvious the word absurd seems quite appropo.
No offense but as a bank it's your feduciary responsibility to make conservative and reasonable calculated risks. The subprime nonsense was neither, it was money shifting. These banks should've defaulted and then the FDIC paying out the $100,000 guaranteed in those accounts people put money in. Anything more nothing. You lost, tough shit. This is what you get for taking risks, especially one's that are just scams.
As for the rest of the banks that have participated, the same. It's on you too. If this was a regular person practicing such reckless behavior we wouldn't look the other way and even recompensate them. The insanity of this is just so blatantly obvious the word absurd seems quite appropo.