Bank of England Pivots First, Fed to Follow – Ep 844
The Peter Schiff Show Podcast
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Why the Central Banks Bailed Out Over Leveraged Banks
The moral hazard precedent that we set in 2008 with all the bad actors, everybody who got too leveraged up because the money was too cheap. And so they were at the debt party. Maybe other than Bear Stearns and Lehman Brothers had to deal with the consequences of that hangover as the central banks bailed everybody out. The message that was sent was keep dancing while the music is playing. Don't worry if it stops because the central banks got your back.
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