they failed before the bailout. for a business, failing is when you run out of money. these banks failed. if not for the government, they would have closed, leaving a disastrous shitshow mess for the country. the time to act was before all of this. they never should have allowed these companies to become so consolidated that they cant be allowed to fail. it makes a mockery of the system and turns it into a state run industry. businesses that suck are supposed to fail so the competitors can clean up. it doesnt work when the banks are as big as they are now.
United States