500
‘Zombie Offices’ Spell Trouble for Some Banks - The New York Times
(www.nytimes.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 09 Feb 2024
500 points (95.8% liked)
Technology
59708 readers
1541 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
There could be individual banks over-leveraged in commercial real estate, but those aren’t important. At this scale it’s large enough to cause a a major recession or crash. We’ve seen smaller banks fail recently.
No, I'm making a generalized statement about privatized banking. If we are constantly socializing the losses when private banking makes a critical error, then we should be socializing the profit, too.
If they end up causing a crash, I think it's time we socialize the assets left over rather than 'bailing them out' for continued private operation. You suggested that nationalizing the assets would be too controversial in this environment, but I actually think intervening on behalf of private financial institutions and commercial real estate landlords would be more so.
It really depends on what you mean. TARP, from the end of the Bush Administration and early Obama Administrations turned a profit for the Government. https://www.nytimes.com/2014/12/20/business/us-signals-end-of-bailouts-of-automakers-and-wall-street.html