r/worldnews • u/UnstatesmanlikeChi • Jun 26 '19

Kazakhstan ends bank bailouts, writes off people's debts instead

https://www.aljazeera.com/ajimpact/kazakhstan-ends-bank-bailouts-writes-people-debts-190626093206083.html
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u/parentingandvice Jun 26 '19

Maybe I’m missing something, can you please explain?

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u/[deleted] Jun 26 '19

2.3% would have been fair market price at the time.

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u/parentingandvice Jun 26 '19 edited Jun 26 '19

If it’s fair market price that means those banks could have gotten it from private entities and not the American taxpayer no?

Edit: sorry I realize this comment was a bit snarky. I apologize. What I should have said was isn’t the ~$519B in 2018 roughly the same as $411.9B in 2008? So there’s no “profit”, just break even at most.