Key Focus

  • There was literally no one who could explain why we would be prevented from doing the same thing that got us out of the first Great Depression (spend lots of money) if the banks went under.
    Our payment system would have surely been disrupted in the immediate wake of a wave of bankruptcies, but unlike in the 1930s, we have the FDIC to insure most of our deposits and keep the wheels turning.
    The initial downturn surely would have been somewhat worse had we gone the no bailout route, but there is no economic reason we could not have quickly lifted the economy out of a downturn with a massive stimulus following a collapse of the major banks
  • They had made hundreds of billions of dollars worth of mortgage and mortgage-related loans that suddenly went bad when the housing bubble burst.
    If we let the market work its magic, they would have all gone bankrupt.
    The banks got the government to lend the money they needed to stay in business, at way below market interest rates, by telling everyone that if they went under, we would be looking at a second Great Depression.


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Knowledge Graph(Read more)

Complex Event Analysis(Read more)


High Level Topics

  • CEO
  • BANKS
  • WORKERS
  • High Level Abstractions

  • CEO(4, 0 Order)
  • ( CEO )(4, 0 Order)  top
  • ( CEO, STOCK )(1, 1st Order)  top
  • ( CEO, SHAREHOLDERS )(1, 1st Order)  top
  • ( CEO, PRESIDENT_DONALD_TRUMP )(1, 1st Order)  top
  • ( CEO, OVERPAID )(1, 1st Order)  top
  • ( CEO, INDUSTRIES )(1, 1st Order)  top
  • ( CEO, CORPORATE )(1, 1st Order)  top
  • ( CEO, CORONAVIRUS )(1, 1st Order)  top
  • ( CEO, BUYBACKS )(1, 1st Order)  top
  • BANKS(3, 0 Order)
  • ( BANKS )(3, 0 Order)  top
  • ( BANKS, GREAT_DEPRESSION )(2, 1st Order)  top
  • ( BANKS, WORKERS )(1, 1st Order)  top
  • ( BANKS, RESTAURANT )(1, 1st Order)  top
  • ( BANKS, MORTGAGE-RELATED )(1, 1st Order)  top
  • ( BANKS, MORTGAGE )(1, 1st Order)  top
  • ( BANKS, KEEP )(1, 1st Order)  top
  • ( BANKS, JOBS )(1, 1st Order)  top
  • ( BANKS, INTEREST )(1, 1st Order)  top
  • WORKERS(1, 0 Order)
  • ( WORKERS )(1, 0 Order)  top
  • References

    • ( CEO )  top
    • ( CEO, STOCK )  top
    • (Read more)   topbut look how much they.ve spent on stock buybacks
      This is not just a question of envy. More money for those at the top means less for everyone else
    • ( CEO, SHAREHOLDERS )  top
    • (Read more)   top Opinion: Any corporate bailouts should wipe out shareholders first
      Published: March 18, 2020 at 3:37 p.m. ET
      By Dean Baker
      Companies taking taxpayer money should have to limit CEO pay
      It looks like we are seeing an effort to do a replay of...
    • ( CEO, PRESIDENT_DONALD_TRUMP )  top
    • (Read more)   top
      One more item; we should also require a full financial disclosure from President Donald Trump and family as a condition of any bailout so we know how much money we are giving him.
      Anyhow, we have major corporations desperately in need of government support to stay afloat
    • ( CEO, OVERPAID )  top
    • (Read more)   top More money for those at the top means less for everyone else. And to be clear, it is not just the CEO who is vastly overpaid. If the CEO is getting $20 million, the chief financial officer and other top execs might be getting $10 million, and the third tier could be getting $2 or $3 million
    • ( CEO, INDUSTRIES )  top
    • (Read more)   top
      Also read: Here are the industries that could get coronavirus aid from the U.S. government
      This sort of restriction on CEO compensation is important because it can help to counteract the crazy upward trend in CEO pay we...
    • ( CEO, CORPORATE )  top
    • (Read more)   top Opinion: Any corporate bailouts should wipe out shareholders first
      Published: March 18, 2020 at 3:37 p.m. ET
      By Dean Baker
      Companies taking taxpayer money should have to limit CEO pay
      It looks like we are...
    • ( CEO, CORONAVIRUS )  top
    • (Read more)   top
      Also read: Here are the industries that could get coronavirus aid from the U.S. government
      This sort of restriction on CEO compensation is important because it can help to counteract the crazy upward trend in CEO pay we have seen in the last four...
    • ( CEO, BUYBACKS )  top
    • (Read more)   topbut look how much they.ve spent on stock buybacks
      This
      is not just a question of envy. More money for those at the top means less for everyone else
    • ( BANKS )  top
    • ( BANKS, GREAT_DEPRESSION )  top
    • (Read more)   top
      The banks got the government to lend the money they needed to stay in business, at way below market interest rates, by telling everyone that if they went under, we would be looking at a second Great Depression.
    • (Read more)   top There was literally no one who could explain why we would be prevented from doing the same thing that got us out of the first Great Depression (spend lots of money) if the banks went under.
      Our payment system would have surely been disrupted in the immediate wake of a wave of bankruptcies, but unlike in the 1930s, we have the FDIC to...
    • ( BANKS, WORKERS )  top
    • (Read more)   topToday the story is that we have to bail out the airline, cruise, hotel, and restaurant industries or tens of millions of workers will lose their jobs.
    • ( BANKS, RESTAURANT )  top
    • (Read more)   top... seeing an effort to do a replay of 2008 where we were told that we had to give all the money to the banks or the world would end. Today the story is that we have to bail out the airline, cruise, hotel, and restaurant industries or tens of millions of workers will lose their jobs.
    • ( BANKS, MORTGAGE-RELATED )  top
    • (Read more)   top. They had made hundreds of billions of dollars worth of mortgage and mortgage-related loans that suddenly went bad when the housing bubble burst.
      If we let the market work its magic, they would have all gone bankrupt.
      The banks got the government to lend the money they needed...
    • ( BANKS, MORTGAGE )  top
    • (Read more)   top. They had made hundreds of billions of dollars worth of mortgage and mortgage-related loans that suddenly went bad when the housing bubble burst.
      If we let the market work its magic, they would have all gone bankrupt.
      The banks got the government to...
    • ( BANKS, KEEP )  top
    • (Read more)   top
      Our payment system would have surely been disrupted in the immediate wake of a wave of bankruptcies, but unlike in the 1930s, we have the FDIC to insure most of our deposits and keep the wheels turning.
      The initial downturn surely would have been somewhat worse had we gone the no bailout route, but there is no economic reason we could not have quickly lifted the economy out...
    • ( BANKS, JOBS )  top
    • (Read more)   topToday the story is that we have to bail out the airline, cruise, hotel, and restaurant industries or tens of millions of workers will lose their jobs.
    • ( BANKS, INTEREST )  top
    • (Read more)   top
      The banks got the government to lend the money they needed to stay in business, at way below market interest rates, by telling everyone that if they went under, we would be looking at a second Great Depression
    • ( WORKERS )  top
    • (Read more)   topToday the story is that we have to bail out the airline, cruise, hotel, and restaurant industries or tens of millions of workers will lose their jobs. Well, the disaster threats were not true in 2008 and they deserve even less credence today. The story in 2008 was that all our major banks had effectively made themselves...