Cenk is wrong on the bailout but right on Geitner | 4 comments (4 topical, 0 hidden)
Oh yeah? (none / 0)
Sterno says -
When confidence failed along with the collapse of Lehman, banks stopped lending to each other.  This, if unaddressed, would have lead to all of the big banks failing simultaneously.  Given the fallout from just Lehman failing, having all of them fail simultaneously would have been utterly catastrophic.

Can you back that assertion up?

Because I don't believe it to be true. I actually believe that we should have let them fail, and I do not agree that it would have been catastrophic for anyone but the bankers.

by RedPossum on 11/24/2009 12:28:13 PM EST

Cenk is wrong on the bailout but right on Geitner | 4 comments (4 topical, 0 hidden)