It is not the duty of government to bail out irresponsible businesses, nor is it its job to get into the banking business.
But it is a duty of government and regulators to ensure the stability of the financial system. That is in everyone’s interests.
In the US, some banks, such as Lehman Brothers, have been allowed to fail, as the government judged that the system could withstand its collapse. Others, like Fannie...
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