Why Not Let Banks Fail?

Source: Future of Freedom Foundation
by Jacob G Hornberger

“Imagine that for the last 100 years, the federal government’s policy was to bail out every business that was in danger of going under. The policy would consist of shoveling large amounts of subsidies into the business in order to help it remain in business. If, however, the business failed anyway, the federal government would pay a large sum of money to the owners of the business as well as to the business’s employees to enable them to transition to other lines of work. Now, for a true-blue socialist, this would sound like a tremendously fine idea. It would conjure up images of Medicare for All …. In actuality, however, it would be an enormously bad idea, which I think everyone, except true-blue socialists, would instinctively realize.” (03/14/23)