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I didn't know there was an actual act passed to make it a policy to bail out any large financial institution that needed to be bailed out. Of course the current financial crisis is a direct result of this policy since most banks know that no matter how badly they eff everything up the government will bail them out.
Anyways, here is the wikipedia article I found:
http://en.wikipedia.org/wiki/Too_Big_to_Fail_policy
The only problem today is if the government tries to bail out all the financial institutions affected by the mortgage crisis they are going to need A LOT of money, like trillions of dollars. Which means even more devaluing of our already suffering currency :-[
Anyways, here is the wikipedia article I found:
http://en.wikipedia.org/wiki/Too_Big_to_Fail_policy
The only problem today is if the government tries to bail out all the financial institutions affected by the mortgage crisis they are going to need A LOT of money, like trillions of dollars. Which means even more devaluing of our already suffering currency :-[