Leading Experts: Let the Banks Fail

The government and Wall Street have endlessly repeated the statement that we have to save the banks, or the whole economy will be destroyed.

But leading experts – including the following people – say that letting the banks fail will help the economy recover:

  • The central banks’ central bank, BIS

We cannot even start to recover from the depression we are in unless the free market is allowed to operate. That means that banks that made horrible business decisions have to be allowed to fail, and those that made good decisions allowed to succeed.

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  • Honest question: What do these people suggest happens to the billions of dollars that these banks hold? The .fed doesn’t insure it all.

  • I wonder which banks would have to fail to help the economy recover. In the thirties thousands banks went bankrupt, further increasing a process of concentration of power in the hands of the Wall Street financial oligarchy. The same is happening now. The most exposed and reckless banks (JP Morgan Chase is not simply involved in derivative markets. It is the derivative markets) are paradoxically the most protected by the government and it’s very unlikely that they will fail. However, as Obama has recently anticipated, more banks will fail, so as to allow the biggest sharks to eat the medium ones and convert their incalculable liabilities in actual wealth by buying on the cheap tangible assets all over the world economy, I add. Then the US economy could be kicked start again, like in the thirties, to be better prepared to the final Eschaton. But this time will be beaming. And blue.

  • ethan.john:these will get written down. As it should be. If you put money into something you don’t understand, then accept to lose it. If don’t want that, join communism.el_Morg:Which banks? Let AIG fail and you will see which banks did not care where their money goes… the rest (the sane ones!) will definitely survive. And I guess it will be quite a lot that survive, because I don’t assume that most Americans are THAT stupid. But we’ll see, eventually, hopefully. And when it happens, prepare for the last BIG BANG that will be followed by a deflation of just about everything. Then there is the possibility to recover. (But don’t expect stocks to come back anytime soon)