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RE: Another Bank shuts down buying Bitcoin with Credit Cards

in #bitcoin7 years ago (edited)

good point @majes.tytyty and thanks for the upvote and your valued comment.

The bigger banks can gamble on large risky investment portfolios, like sub-prime mortgages, because they are considered "too big to fail".

That is, the public by way of tax dollars must bail them out rather than let them go under if their large risky investment portfolios go sour.

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The best phrase I ever heard about it stated that our system was "Heads I win, Tails you lose" capitalism. The big banks win no matter what.