Phatscotty wrote:If the banks failed, new ones would have taken their places, with better business plans.
1) you clearly have no idea about the banking and finance system.
2) you are right that if some of these "banks" failed they would be replaced with new ones.... 20 years from now after we finally recovered from the depression that was averted.
3) people keep talking about crooks... And keep demanding prosecutions... and they do this without realizing that there were no laws broken.
( not talking about the Madoff or Enron things...)
But rather about the primary failures... Which were primarily caused by the gov't forcing banks to take bad loans and also keep interest so low for too long.