Quote from: Mauser on Today at 08:36:00 AM

Quote from: exstasie on September 06, 2020, 04:36:19 PM

Quote from: prehisto on September 05, 2020, 09:29:42 PM

You have to eleborate , how was wall street bailed out?

Some companies were bailed out , some stimulus checks were given to pepole. I dont see how this is wall street bailout.

It wasn't, not yet. Banks were well capitalized heading into this, sitting on record amounts of cash. However, there are millions of people currently missing mortgage payments and defaulting on credit cards and other loans as we speak. It's hard to say how quickly those cash reserves will be eaten through in some of the darker economic scenarios.

Remember, when the housing crisis hit in 2007, it took a year before the bottom completely fell out and Congress passed the TARP bailout. The same thing could happen this time around. Maybe 2021 will be the year of the bank bailouts.

The bailing out during the corona crisis happened much fast than the 2007/2008 housing crisis because the lock down hit the real economy immediately. Almost all major governments injected billions into their economy. Some of this money came in form as loans, others as equity and some as substitute for keeping on workers. In Europe for example national governmente became stock holder in all of the big airlines over night. Also pharmaceutical companies received state aid to try and avoid selling out of corona vaccines.

It different than 2008 IMO. 2008 was their fault and this is not