This is why free enterprise can’t go unchecked. It doesn’t work. People having faith in a system is a massive component in keeping lots of said systems functioning.
While it’s undoubtedly brutal that a bunch of public money will go to saving the day, I think the government and regulators need to instil short term faith in the banking system, and then follow that with regulatory changes to instil long term faith and actual greater fundamental security in banking across the board.
|