No, the banks were then taken over, bought cheaply, and they still had to repay the loans, but they had nothing left and they were destitute. Wait, you lose your deposit but keep your debt? Yes. How does that work? That's a Federal Reserve policy. Of course, the Fed could have done it very differently. And where we saved those banks, where's. Franklin Roosevelt in this? (36:57–37:01)
CLAIM
Questions the policy where depositors lose their savings but still owe debts.
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