> America sorted its banks out swiftly after the 2008 credit crisis.
Is there general agreement that the US government acted effectively in this matter, not just for bankers, but for society as a whole?
Is there general agreement that the US government acted effectively in this matter, not just for bankers, but for society as a whole?
However, arguably the bank bailouts could have had much better terms for the taxpayer - most of the upside was realised by bank shareholders who were not wiped out, rather than the taxpayer who bore the risk.
For comparison, Warren Buffet also recapitalised some banks in the depth of the crisis, demanded and got long-term warrants that paid out truly humongous amounts of money once bank shares rose back to pre-crisis levels. Tax payers - in comparison - got a few percent of interest rather than adequate compensation for the risk they bore.