Quote:
Originally Posted by kane
In a perfect world you are correct. Sadly, when it comes to nationwide economics there is no clear cut right and wrong. Bank of America is huge and if it had failed it could have brought with it tons of other banks and cost a lot of people their jobs. Maybe it would have quickly been replaced by another bank and the damage would have been very small, but maybe it would have set off a chain of events that drove us further into the ground.
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Regardless of size, I think that ANY and ALL banks that are no longer competitive, or that involve themselves in highly risky behavior should be permitted to fail. When that is allowed to happen, it purges the poor performers from the market so that leaner, better run banks can emerge. Yes, jobs are lost, but I think it's better to quickly cut the losers free than it is to continue with the misguided idea that propping them up and delaying the inevitable will somehow be better.
