alt Hacker NewsNeed to update the aphorism:
If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem. If you owe the bank $100 billion, that's country's problem.
Replies
etempleton • today at 1:14 PM
Fortunately, they do not owe the banks as much as they owe each other and private capital.
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iAMkenough • today at 1:49 PM
Sucks that most of the country didn’t vote for the $100 billion, but will be left holding the bag. Are we witnessing the fall of an empire?
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dingaling911 • today at 1:52 PM
Trump admin, to their credit, seem to have somehow figured this out.
They bailed out Intel and the stock recovered.
Might do the same.
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sjdh76 • today at 2:50 PM
If you print money, you are the bank. Tokens are the new currency.
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If it’s the country’s problem, then nationalize them. Not loans, not bail outs. Confiscate and figure out how to wind them down in a way that benefits the taxpayers.