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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (526226)11/5/2009 12:38:09 PM
From: bentway1 Recommendation  Read Replies (1) of 1578510
 
"The banks weren't going to disappear. The insurance industry in all its forms wasn't going to disappear. Plenty of banks and insurance companies out there willing to take up the slack."

No, they were going to go into bankruptcy and cease functioning, no more loans, no more insurance. There weren't any banks or insurers of a size to take up the slack of those that would have gone under.

Shipping had STOPPED. The container ships were being anchored off Hong Kong in a huge floating parking lot because their cargoes couldn't be insured or there was no loan available to purchase their cargo. The stuff that was delivered was just piling up in Long Beach because the orders had been cancelled.

Your solution would have had it never resume, only until a decade-long Bush Depression had played out.
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