Quote:
Originally Posted by jfman
That’s no way to speak of the banks bailed out to the tune of billions.
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It wasn't the banks as such that were bailed out, it was the banking system that was bailed out. That allows people to get personal loans, business loans, and mortgages. EG Northern Rock could no longer obtain the money to issue the mortgages. The banks losses originated from people borrowing money and not paying it back.