Just read that Credit Suisse required a government bailout to keep afloat

[GunsMadeAmericaFree]

Credit Suisse

Is it just me, or does the news of one bank after another failing and needing a bailout make you think of 2008 and the start of the 'Great Recession' ??

And why didn't they learn anything from that lesson just 15 years ago?

 

[dank69]

The only thing they learned in 2008 is that they'll be bailed out and even when they aren't, the people responsible will walk away with millions and no charges.

 

[GunsMadeAmericaFree]

At least Biden announced that the people in charge of any bank that needs a bailout will be fired. Hopefully they actually do that.

 

[SMOGZINN]

Credit Suisse

Is it just me, or does the news of one bank after another failing and needing a bailout make you think of 2008 and the start of the 'Great Recession' ??

And why didn't they learn anything from that lesson just 15 years ago?

We learned that lesson, and then republicans decided to remove the guard rails we put in place to make sure it didn't happen again. Joe Manchin actually voted to deregulate and yesterday when asked about it said something like, and I am paraphrasing here, "Who knew that the banks would do the very thing that they spent millions lobbing us to allow them to do!"

 

[dawp]

Credit Suisse

Is it just me, or does the news of one bank after another failing and needing a bailout make you think of 2008 and the start of the 'Great Recession' ??

And why didn't they learn anything from that lesson just 15 years ago?

greed trumped those lessons learned. these banks lobbied to have the regulations put in place after 2008 to be rolled back and got what they wanted.

 

[GunsMadeAmericaFree]

greed trumped those lessons learned. these banks lobbied to have the regulations put in place after 2008 to be rolled back and got what they wanted.

And what did WE learn from that.....

 

[thilanliyan]

And what did WE learn from that.....

Never elect Republicans...after all, Trump is the one who rolled back those regulations. 😀

 

[GunsMadeAmericaFree]

Never elect Republicans...after all, Trump is the one who rolled back those regulations. 😀

Imagine, big companies want fewer regulations so that they can maximize profits!

 

[Indus]

Imagine, big companies want fewer regulations so that they can maximize profits!

Sure just like you want to AirBnB rent a home, have parties, throw chairs around, break the furniture, run cars into the pillars and get out before the term expires and then blame the landlord!

 

[UNCjigga]

Imagine, big companies want fewer regulations so that they can maximize profits!

Imagine, citizens taking power into their own hands and deciding that certain industries (banking, power generation, healthcare providers etc.) shouldn’t be guided solely by maximizing profits and shareholder value since their continued operation nets in a public good.

 

[manly]

Imagine, citizens taking power into their own hands and deciding that certain industries (banking, power generation, healthcare providers etc.) shouldn’t be guided solely by maximizing profits and shareholder value since their continued operation nets in a public good.

What are you, a socialist?

< / sarcasm> 😉

 

[dawp]

Imagine, big companies want fewer regulations so that they can maximize profits!

and look what that got them, a failed bank.

regulations are not necessarily a bad thing, especially when they prevent things like this or the derailment in ohio.

 

[K1052]

CS has been a disaster for years. Kind of remarkable it lasted as long as it did.

 

[Puffnstuff]

Their AT1 bonds are not being backed either.