Question

Mere Exposure

Answer 1

Mere Exposure



Best Answer - Chosen by Voters

No. It only appears that way because small local banks would not have proceeded in the same manner and breadth. However, their demise was due to other inabilities. The banking crisis as you call it, was a result of factors that would not have been absent just because many smaller local banks still existed. The big players definitely are to blame nonetheless and they include government.

Implications for the future are that you better not rely on credit rating and income growth. Savings and deleveraging (less use of debt of all forms) will be the way stable growth occurs in the typical American family while higher tax bills and less social benefits are going to be the future for the lowest class workers as a result of the banking crisis no matter what any Dem or Repub states. I do not state this as a political spin but rather a realistic prediction of what has to happen. Example, Greece. There was never any chance in my opinion they would do anything else but settle the austerity issue no matter the delay and political posturing. Same will happen in USA. There has to be a settlement period until a new growth era occurs. And one will but not in this decade.