Congress Never Bailed Out The Banks (Communities - Activities)

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Congress Never Bailed Out The Banks

In 2008, banks including the Federal Reserve threatened us that the economy would collapse if we didn't give them $700bn. At least that was the story we were told. In fact, that's almost completely wrong.

The story claims that banks were insolvent and if the government didn't give money to these banks, people wouldn't have access to the money in their accounts. While this is mostly true, the blame was completely misdirected away from the real financial irresponsibility.

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Last Update : Apr 05, 2018
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Item  Owner  : Taxation Is Theft
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2019-02-16 (0.071 sec)