<prompt> Human: If the institution that I owed money to ceased to exist, would I still owe anyone money?  <response>: Some other bank would have bought the debt for pennies on the dollar, and youd owe the money to that bank.Outside of that, we probably would have been in for a true depression, as the dollar might fall out of favor and the US wouldnt be seen as a financial powerhouse any longer. It would drag the world down with us, too. 