Tuesday, March 5, 2013

Too Big to Make Money?

Apparently so...we (collectively) have constructed a system in which banksters all but depend on government handouts to keep their business model afloat:

Source: Bloomberg
Yet all we heard about a couple of years ago (and even today to some extent) was how these banks are too big to fail. Hrmph.

Congress should've held their ground back in 2008. Instead, we had to wait for little Iceland to show us all that the path to recovery lays in saying no to the bankster's demands to socialize their losses (after they'd squirrelled their private profits away). The Icelandic citizen's world didn't end...although it caused no small amount of consternation for the green-eyeshade bankster crowd...and now they're growing again. While we, OTOH, have but $29T in debt to show for it.

1 comment:

ScareCrow said...

Remember the good old days when banks actually GAVE you money when you put money in them...

What the hell happened?

Now, they just nickel and dime people who put their money in the bank...

Good Grief.