We’ve all seen the ‘haircut’ Cyprus depositors had to take at the behest of the benevolent EU, and somehow the most connected took out $900mm Euro before this went down. I guess everything is a shakedown and a scam. There hasn’t been capitalism in the world for 100 years but the lying colleges and textbooks continue to support this meme so maybe it is time for a revolt for honesty.
Maybe it is time for Adam Smith to get his proper due. The world knows never to trust a government but now they should never trust a connected global bank either.
The good banks are all small community and regional and never extend themselves but it seems whenever some big bank goes overboard nothing good happens, but always they get bailed out by the taxpayers at the behest and support of the government or some regulatory agencies who never found anything amiss. Oh how sweet it is to be connected to the Poison Ivy League.
As the old adage says that banks are great at privatizing profits and socializing losses and why is this? It is because the protected political class is involved and the poor and middle class suffer and there is no justice.
Good luck America as the Great Confiscation of Equality has Begun, but Remember the Politicians are Fair Game.
The Kansas Kracker