Reply to post: Re: While of course they needed to be bailed out

So why the hell do we bail banks out?

codejunky Silver badge

Re: While of course they needed to be bailed out

@ I ain't Spartacus

I like your comments on the banks being pro-cyclical but I dont think its a bank issue, its a private sector issue. During a boom people and businesses (including banks) go nuts and buy houses/equipment/services they cant afford, and in a bust they pay back the money they borrowed or default.

I wonder if the recession would be less painful if people had some financial sense instead of the crazy over-consumer problem we do have. I start the blame with politicians and education but lack of financial planning means that it isnt just the poor that suffer and need welfare support but the self made poor also.

When I look at the desire and desperation for credit I do worry sometimes as the people using it are often the ones to add to the problem.

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