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[–]ayotollahsinIran[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

I don't get it at all to be honest.

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

In 2008 when the economy was poised to fail from corrupt practices and ass-backwards policy (loan assessments, poor management, etc), the federal reserve stepped in and poured billions into companies like Fannie Mae and BoA that deserved to die and be buried for letting ideology cloud basic judgement- bear in mind that these companies were handing out mortgages like candy to low income black families and surprisingly never got loan repayments and witnessed most of their clients default.

The same Bank of America gave ONE BILLION USD to BLM just a couple months ago and clearly has learned nothing from its ideology-over-business practices. The Federal Reserve should have never conducted quantitative easing and should had NEVER bailed out a company as fucked as BoA. This has real world implications for everyday Americans.

Make sense?

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Plus, permanent public debt based on interest bearing loans; banks don't even need to exist, just have holding houses.