Subj : Re: Recession to Depressi
To   : Arelor
From : Kaelon
Date : Thu Jul 21 2022 05:40:46

  Re: Re: Recession to Depressi
  By: Arelor to Kaelon on Thu Jul 21 2022 06:04 am

 > Actually, the arch-capitalists were the ones saying to let the failed banks
 > crash and rot, or if any institution was not willing to do that, to arrange
 > a solution for a profit.
 >
 > Here in Spain we had lots of banks buying crashed banks because of their
 > customer portfolio.

Yes.  And I am in full agreement with the concept that true Capitalism, without institutional interference but with some basic safeguards to ensure that consolidation to exploit consumers is restricted, has to have clear risks to match their rewards.  Banks have enjoyed vast profits with almost no real risk of collapse.

True Capitalism would have allowed all of the banks to fail.  And would have never allowed such a thing as "too big to fail" to exist.  But, as we've discussed elsewhere, the Western Global Order is not capitalist.  It is a Corporate Syndicate that reflects the consolidation of economic and political pillars in our society stemming from the Post-War Order.
_____
-=: Kaelon :=-

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