Ironically it's a huge win just because it transfers money from rich people to poor people and from investors to inventors. Those fucking boomers whose 401ks invested into the bank stock and bonds through indexing got their valuations nuked, and the financial power was transferred instead to the people saving money there which is the economy productive inventors and creators. This is a massive boon economically because they are the ones that actually creates capitalistic growth. The boomer fuckers are parasite rent seekers and having them lose money is an incredible win. They can be productive by slaving away for incels for $1/hour as they die of untreated cancer.
All those high earner fuckers who put money in giant indexed investment schemes and their money tripled deserve to lose their money because they just don't produce anything of economic value they are parasite rent seekers.
One of the biggest problems with the economy is that boomers who are not economically productive consume massive resources which basically sucks it up away from younger generation. It's bad because the younger generation actually creates economic growth and prosperity. For example young people actually invent and produce products that are exported to other countries in exchange for money, or improve the quality of life locally.
Also the entire banking system fucking sucks since it is all biased towards rich people so having 1,000 banks collapse is basically a good thing.
If the bank was bailed out, all the poor people would lay higher living costs through inflation "oh no the cost of living is 30% higher i can't even cut my living expenses" just so some rich boomer and high income fuckers can get their investment index be 5% higher. "Omg wow my $1m thing became $1.01m instead of $0.99m thanks to the bailout" Jfl.
It was very ideal...
People who say the depositors shouldn't be bailed out. The problem is that every single bank would go to zero immediately as every single person withdrew their money. The problem of course is that this would make every bank unusable. They still want people to be able to use banks. But honestly thinking about it. Making every single bank go to zero and having everyone lose their money is actually very nice. I guess the problem with that is that every business would stop, so tax income would stop as well as exports which would destroy the government revenue (the destruction of banks itself does not generate revenue.)
The banks didn't deserve to fail. The government tricked them fraudulently into failing using extreme malicious deception. But destroying the banks was the most economically productive decision. It was just a convenient way to suck up the financial power of the boomer retards who should suicide.
The outcome of all this is that people who invested in the bank stock and bond lost their money instead of the taxpayers, and the depositors got their money back.
If they bailed out the bank then banks would be incentivized to make ultra high risk investments since if it failed the government would cover the losses. That in turn would eventually cause massive financial harm to the government.
