“Actually, they would have been bought up by other banks; Wells Fargo was ready to buy up some of them.”
Of course. One fails, another takes a gamble, and succeeds or fails. That’s capitalism.
Agreed
“Actually, they would have been bought up by other banks; Wells Fargo was ready to buy up some of them.â€
Of course. One fails, another takes a gamble, and succeeds or fails. That’s capitalism.
Let’s tell the truth about the 2008 banking debacle. It was not capitalism. The Fed and Treasury told the little guys which big guy was going to buy them. Then they borrowed money from our children (via the Fed) and gave it to the big banks to buy the little ones.
It was outright theft from future generations and had nothing to do with capitalism.