One of the most telling moments of the fourth GOP debate was when Ted Cruz said he would not bail out the big banks if they fell into financial distress again. This was used by both the left as well as the Republican Establishment to paint him as an extremist who would rather see the economy fail rather than helping to stabilize it.
What they don’t understand (or more likely what they don’t want you to understand) is that FDIC would protect the vast majority of Americans from losing a penny in a situation that caused banks to fail. As far as working with the corporate components of failing banks, there are measures that can be put into place in the event of an economic catastrophe that would not require a government bailout of banks. In fact, many are starting to realize that if these measures had been used during the last recession, we would be in a better financial place now.
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