You are mixing apples and oranges. Let me restate and try to make this simple for even someone who has written about this would understand or are you purposely trying to act stupid?
Your position which you have stated over and over is we should have let the BANKS fail.
My position is that would have been truly ignorant stupid and any other type of condescending and demeaning descriptive adjective I can type here would be acceptable.
You are stating the obvious by saying derivatives and deposits have nothing to do with each other and of course that has nothing to do with my point and for someone who tries to tell us he knows what he's talking about causing me to say - HUH?
You see when a bank goes under - bankrupt - in normal times the FDIC swoops in on a Friday and by the next day are running the bank ands most, NOT ALL, deposits are safe.
With the big banks that's impossible because of all the other businesses they are in so in a bankruptcy who is responsible for monies over 250K (ans: no one). So those deposits are wiped out and also wiped out are corresponding bank balances, Payroll accounts, shipping accounts (where banks pay shippers and millions and millions are in these accounts), money transfer accounts, overnight account were treasury departments of very big companies can put in hundreds of millions for overnight interest and then get it back in the morning.
Now I'm sure by your naiveté you have no idea what letting them fail actually would mean to our economy but you seem to be - hey I have no idea what I'm doing or saying but let's let the chips fall where they may. But in your abject ignorance banks do depend on one another and one bank failing could cause other to fail and it would be unlike Vietnam a true domino effect as banks throughout the world would start to fail.
Of course your response is let’s guarantee the deposits which is laughable because that’s far more by multiples of what we have done now.
Do you understand now?
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