FBN’s David Asman on the 2008 financial crisis and the debate over government bailouts….(read more)
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The 2008 financial crisis was a major blow to the global economy, with the collapse of the housing market and the bankruptcy of several prominent financial institutions. In response, the US government provided massive bailouts to the banks and financial institutions in order to prevent a complete collapse of the economy. Today, as we face a new era of economic uncertainty, the question on everyone’s mind is this: Would the government bail out the banks again if another crisis were to occur?
The truth is, no one can say for sure what would happen in the event of another financial crisis. However, it’s important to look back at what happened in 2008 to get an idea of what might happen in the future. In 2008, the government provided massive bailouts to the banks and financial institutions in order to prevent a complete collapse of the economy. The government felt that the financial institutions were “too big to fail,” and that the consequences of allowing them to fail would be so severe that it would be worth the cost of bailing them out.
However, the decision to bail out the banks was not without controversy. Many people felt that it was wrong to use taxpayer money to bail out banks and financial institutions that had engaged in risky behavior and questionable practices. Some argued that the bailouts rewarded bad behavior and encouraged more risk-taking in the future.
In the years following the crisis, there were a number of reforms put in place to try and prevent another crisis from occurring. The Dodd-Frank Wall Street Reform and Consumer Protection Act aimed to increase transparency and oversight over the financial industry, and to prevent some of the risky behavior that led to the crisis. However, some argue that these reforms did not go far enough, and that the financial industry is once again engaging in risky behavior.
If another financial crisis were to occur, it’s likely that the government would once again face pressure to bail out the banks and financial institutions. The consequences of allowing them to fail would be severe, and the government would likely try to prevent that from happening.
However, there is also likely to be significant opposition to any bailouts. Many people still remember the controversial decision to bail out the banks in 2008, and feel that it was a mistake. There is also concern that any bailouts would once again reward bad behavior and encourage more risky behavior in the future.
Overall, it’s impossible to say with certainty what would happen in the event of another financial crisis. However, it’s clear that the decision to bail out the banks in 2008 was a controversial one, and that any future bailouts would likely face significant opposition. Ultimately, the question of whether the government would bail out the banks again will depend on a variety of factors, including the severity of the crisis, the political climate at the time, and the effectiveness of any reforms put in place to prevent another crisis.
Why 2008 ?
Taxpayers saved the economy
Banks tried to scare everyone with horror financial stories and when that didn't work, they blackmailed Obama for a bailout. US has great minds as government officials, but they never make it to the top if they can't be controlled or blackmailed. They tried the same tactics of placing/removing presidents for personal gain in Russia but instead had to leave the country, lose their businesses and never come back. This is the main reason why they hate Russia so bad
The more it's bailed out the dumber these fuckers get
History does so repeat itself JP morgan bank caused the great depression, the 1980's and 2008 crashes and were bailed out each time. They've greatly benefitted from these crashes the only ones suffering were the very people who have bailed them out. The audacity, politicians and bankers should be going to jail. Congress colludes with the banks to screw the American people, so careful who you vote for.
If you don’t want the banks to get these multi-billion dollar bailouts again, stop supporting Trump, dumbasses
No more bailouts of any kind for corporations or for banks.
If people need help there's churches, food banks and other assistant programs no more bailouts.
It's a big club and we ain't in it
George Carlin
I lost it at
Freddie
And
FANNY….
Should have given the money back to the people not to corporate interest.
wallstreet should pay for the wall
Why did the government bail out the big banks for their losses in mortgage? They are secured by the mortgage property. This is their risks to take for making big profits for lending money. Let them suffer the loss. Likewise, the wolves in the Wall Street must bear the loss. The people have the right to Revolt because the Government use the taxpayers money to bail out these bastards.
Don't bail out banks; bail out homeowners
There's a lot of people that are victims of this business cycle. We can't blame the victims. I'd go to Washington as well as Wall Street, but I'd go over to the Federal Reserve. The bailouts came from both parties. The banks were involved, and the Federal Reserve was involved. But who got stuck? The middle class got stuck. They got stuck. They lost their jobs, and they lost their houses. If you had to give money out, you should have given it to people who were losing their mortgages, not to the banks.
The Cooperative Movement Is surging 10 years after the Worldwide Economic Collapse sparked "Occupy Wall Street," https://youtu.be/-KsvUAN-BHs?t=6s
Banks Are Preparing For An Economic Catastrophe, https://www.youtube.com/watch?v=NwbrzhpciME
Vicious U.S. Cycle Of Economic Crash, Regulation, Corruption, Deregulation and Crash Again, May 31, 2018m https://youtu.be/RCSp5D0t9Vg?t=1m49s
Bill Moyers, Matt Taibbi and Yves Smith on Big Banks, https://www.youtube.com/watch?v=VwcpOithag0
"I hate banks. They do nothing positive for anybody except take care of 'themselves.' They‘re first in with their fees and first out when there`s trouble."
— Earl Warren, Chief Justice of the U.S. Supreme Court, 1953–1969, Governor of California, 1939–1943, https://youtu.be/RCSp5D0t9Vg?t=1m49s
We have Dodd-Frank to protect us from future bailout of Banks but the Republicans wants to get rid of it.
Did those banks pay back the government?
I want a bail out too damn!!
I lost every dime of my 401k and still haven't seen a single penny ever returned to me the person's responsible for my loses and a lot more Americans were never prosecuted after being caught cooking the books. Myself and other average Americans would be in prison for fraud and forgery if we did that stunt. Let them fail for all I care after everything I worked for was lost.
We should drop the Dollar have back with new money it shouldn't have the federal reserve Alot of our problems are the way we spend our money as in government.Waste money like they will never run out of it.
Let them break up they are to big.And kill the federal reserves.Have everything back by gold.
WHEN ANY COMPANY OR BANK FAILS, LET THEM FALL, AND THEN NEW COMPANIES AND BANKS MAY TAKE UP WHERE THOSE PREVIOUS COMPANIES AND BANKS FAILED, SO WHY BAIL OUT ANY COMPANY OR BANK SO INCOMPETENT THEY FAIL???????????????????????////
Why isn't anybody talking about the missing Trillions ?
LOL!!!
FU** NO!!!!
Unfortunately there maybe no other choice but to bail them out in certain circumstances … Hope we never have to come to that again …
Hellno
#NoBailOut