Should we have done what we did during 2008 or pulled an Iceland, try to bail out the people and jail the bankers...

Should we have done what we did during 2008 or pulled an Iceland, try to bail out the people and jail the bankers. Was it even possible?

No it wasn't possible - tons of assholes should have gone to jail in 08. For every dumb ass illiterate no job holding nigger that got a 500,000 sub prime loan that got the majority of the blame - there was a well educated greedy cock sucking banker that made him the loan knowing he couldn't pay it off. So when the bubble burst and everybody went upside down in their mortgages the nigger took the fall - the banker retired rich. Fuck those assholes - greedy assholes almost ruined the country.

But then again - who gives a fuck that was 2008.

How would you jail the bankers when the politicians ARE the bankers?

That's like tasking the dirty cop on the force to find out which cops are dirty.

The global financial system should have failed which would lead to the deaths of 1-3 billion people due to collapsing supply chains but the world would be better off in the long run

>the deaths of 1-3 billion people

I doubt it

too big to fail is a meme. yes it would put many people out of a job to let it fail but a competitor would replace it (huge banks)

Very little stuff that happened was explicitly illegal though. "You made the economy collapse" isn't a crime if you do so within the confines of regulation. While I would definitely say that the skeevy shit Bear Sterns and the like did was under-prosecuted, the fact is that that illicit activity was the minority of what caused the recession and most of it was due to purely legal market phenomena. How do you prosecute the market for doing what the market does?

The housing bubble was caused by Government forcing banks to give nogs and trash loans, even if they had terrible credit. That should have never happened, but we kept bailing them out, when the policy failed. This eliminated risk for these banks, and led to the collapse.

Abolish the fed and regulation, and let what happens happen. We've seen that Government doesn't help economies at all.

>inb4 keynesian scum

Assholes loaned a nigger I know 150K 0 money down no payments for 6 months on a run down 70's built house in my neighborhood. He had 3 kids and worked stocking shelves at Walgreens. Explain to me how the banker that handed him the papers to sign wasn't a fucking greedy criminal - I don't think Lavonte ever made the first payment and it took 3 years to get him evicted. His kids stole everything in the neighborhood that was bolted down. 2008 was unbelievable.

Throw baits & reel.

It's true it is not those people's fault.

Nobody knew the evil intentions of those bankers.

"I loan money, give highest interest to make sure you can't pay back when I make it impossible for you to get paid, so then I take and keep all your belognings in which you signed in the contract"

I agree they should have been killed. (And I don't mean recepcionists etc, I mean the ones that thought this process with their beta-engineering type of mindsets making innocent hard working people attract other innocent people working to get literally stolen in a legal way) each and last one of them.

pic 100% related.

Not possible because the Jews run the country. Iceland isn't Jew controlled so they were able to jail them.

What about the dumb niggers? Why do you just leave them off the hook and give them a free ride with no expectations of self responsibility or accountability!

You might be underestimating just how much thrashing about the country with the world's largest army could get in before actually sinking.

Guess we're about to find out though.

if we pulled an iceland, I think goldman sachs was the next bank to fall

>almost

Negro what? They had to give loans to poc who had no business getting them because of muh racism.

>dumb
While they always have personal responsibility I think in this situation it's akin to asking why a layperson listen to a fucked up Doctor. They just wanted a house and as far they understood (with a monumental lack of foresight) they could get one.
Mr. Banker on the other hand knew full well a lot of those loans were going belly up but didn't care because he'd sell the loan asap, bundle them and get a good credit rating from the union because they were fucked too. Average nig can actually get a pass on this one.

I guess what I mean is that while the people who took the loan are somewhat at fault, the people running the gaf were much more at fault for knowingly doing wrong (inb4 it was legal) and thereby more responsible for fucking shit up for everyone, myself included.

there is no question they should have failed for ripping off the working man. It was an orchestrated scam by the big banks and the government in kahoots.

>give them a free ride with no expectations of self responsibility or accountability!

this is the fiscal and social policy of every first world country atm

You do realize the government passed laws requiring these "greedy cock sucking bankers" to accept shit loans. Go watch the big short again and tell me how horrible bankers are just so I can laugh at you

Yes.
Money is a device utilized by private bank corps to transfer real wealth from middlle class and poor to the rich. Hence, ever since 2008 the super-rich have seen record profits.
Ultimately, a resource based economy will do much better in meeting the planet's needs.
Until then divesting private banks from the power to create money from nothing is a means of transition.


Anway, Iceland's doing better than most if not all that bailed out their financial institutions.

nice bullshit you got there.

Banks used to only lend to prime creditors (people they know would pay it back for sure)

Government intervened and said "you can't do that, has to be fair for everyone". Bank said "who's going to pay it back if they dont?" and then the government gave them a nice big insurance policy to back them up

So sub prime loans were made and banks were able to use tools to analyze loans (credit scores). Banks weren't able to refuse those looking to get a mortgage due to new regulations and the government willing to take on the risks associated with sub prime lenders

It was probably the feds fault for that crash and it will be for this one as well with all the printing money and pumped up stock market