The phrase is "that would be good for the economy".
It’s still the notion of trickle down economics at play.
But they did get a 3.5% return on their investment (but not comparable to the equivalent return in the market or even in bonds for the same duration).
That return was in turn used to justify the bailout, but the global macro effects weren’t accounted for: the banks’ fuckup caused misery all over the world for the best part of a decade.
The phrase is "that would be good for the economy".
It’s still the notion of trickle down economics at play.
But they did get a 3.5% return on their investment (but not comparable to the equivalent return in the market or even in bonds for the same duration).
That return was in turn used to justify the bailout, but the global macro effects weren’t accounted for: the banks’ fuckup caused misery all over the world for the best part of a decade.