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"Banks fail. When they do, those who stand to lose scream for a state rescue. If the threatened costs are big enough, they will succeed. This is how, crisis by crisis, we have created a banking sector that is in theory private, but in practice a ward of the state."
https://www.ft.com/content/09bfbb8d-22f5-4c70-9d85-2df7ed5c516e
@cyrilpedia of course you'd read that in the Kumbaya Collectivist Times...
@caesoma Bolshevik propaganda paper
@cyrilpedia
"if you owe the bank $100, you have a problem.If you owe the bank $1B, they have a problem"
https://quoteinvestigator.com/2019/04/23/bank/
but in this case it's the banks owing money, and the gov that has the problem.
Does anyone ever chase down those who made money from the bank before it collapses?