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hughee99

(16,113 posts)

12. The public had to bail out the banks. Some of it was repaid.

Reply to ToxMarz (Reply #11)

Thu Oct 3, 2019, 04:33 PM

Oct 2019

Ultimately, the public wasn’t on the hook for all the bad loans the bank had ever written. These banks are going to operate with public money. The public is on the hook for every single bad loan.

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13 replies

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Highlight:

Public Banks Can Be Formed In California As Newsom Signs New Law [View all] appalachiablue Oct 2019 OP

Sounds like a good start not fooled Oct 2019 #1

It's all good; took 100 years to get another state public bank. appalachiablue Oct 2019 #3

K&R Thanks for posting. alwaysinasnit Oct 2019 #2

It's time to give Wall Street the finger. I love this idea. Wish I lived in CA. YOHABLO Oct 2019 #4

Maybe it's just me woundedkarma Oct 2019 #5

From the looks of it, the Ca. banks will not be loaning $$$ to the likes of us. 3Hotdogs Oct 2019 #6

Critics of the institutions ToxMarz Oct 2019 #7

Except the public is on the hook for all bad loans, hughee99 Oct 2019 #8

Who was on the hook for all the bad loans that caused the last recession ToxMarz Oct 2019 #11

The public had to bail out the banks. Some of it was repaid. hughee99 Oct 2019 #12

Yeah PatSeg Oct 2019 #10

Good idea, but it has to be highly regulated and monitored with very tight controls in place. Yavin4 Oct 2019 #9

Would these banks be available for marijuana dispensaries to use for fund accounts? not_the_one Oct 2019 #13