[Marxism] [pen-l] The banking crisis 10 years on, and the danger of another crash - CBS News

Michael Meeropol mameerop at gmail.com
Sun Oct 28 12:04:54 MDT 2018


No one has answered the obvious point made by Dean Baker --

If the banks had been permitted to fail, WHY ASSUME that the federal
government would have done nothing to stem the tide of increased
unemployment ---

(The FED actually began buying up commercial credit right after TARP passed
-- the only "real" reason for TARP that ever made sense was to keep the
flow of commercial credit -- so the FED waited till it passed before
showing it could step in if needed ....)

Maybe if the banks had failed Congress would have been forced to spend more
money in stimulus --

Despite near universal agreement with TOOZE, I don't think that case has
been adequately made ....

On Sun, Oct 28, 2018 at 12:13 PM Louis Proyect <lnp3 at panix.com> wrote:

> Somewhat surprisingly, this segment relies on the analysis of Marxist
> professor Adam Tooze.
>
>
> https://www.cbsnews.com/news/the-banking-crisis-10-years-on-and-the-danger-of-another-crash/
>
> --
>



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