Friday, March 06, 2009

On Banks

I appreciate that people have principled positions. A consistent philosophy is a rare thing in this world. But before anyone says "let these companies fail", please understand that if the big banks were allowed to fail, it'd be the end of the worldwide economy.

It's impossible to predict future economic and social effects, so I can't say it for sure, but if the large banks collapsed, it'd probably lead to the end of civilization, if not the end of the human race. There may be situations where an economic collapse may be OK, but with the environment as it is, an economic collapse would lead to an even more significant environmental collapse, not to mention the likelihood of war and destabilization of countries with nuclear weapons.

I don't object to taking a principled stand, but you must realize the effects of your position.

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