What I wish the most is that the pandemic was just an ugly dream and never happened.
However, I’m no longer sure if the situation would be any better here even if the pandemic hadn’t happened.
What do you think, if the pandemic never happened, what would it be like now at BoA?
5 replies (most recent on top)
the underpinnings of the banking system are not good and they were even worse in the months leading up to C19 BS.
we've been "running on steam" since at least 2008 when things collapsed. In reality every bank failed. They propped us (and a few others) up, essentially changed nothing, and we are headlong down that same path again. the entire model is smoke and mirrors. To the OP's question - prior to covid the bank culture was already in the cr----r. What covid did was give a lot of folks reason/opportunity to pause and look a their place on the wheel and how little cheese they were running for. So more eyes might have been opened, but largely the feelings a the bank, and reflected on this board would be the same
Finally somebody on this board demonstrates they actually understand finance.
The central banking model and fiat currency are kaput. Running on steam
the pandemic, as it were, had to happen. Overnight repurchase agreements at 10% interest 9/17/2019. And $1 trillion in repo's by Feb/Mar 2020.
covid had to happen to save BoA and others.
First, you need a question mark after your sentence. "What do you think? "