The use of taxpayer money to bail out the banks has become the biggest bank robbery in the history of our species . . . Not FROM the banks but BY the banks!
Robbery because taxpayer funds were only ever designed to provide the infrastructures that support Society . . . healthcare, education, roads, railways, and so much more that assists people in living their lives as comfortably as possible. Never, ever, was there the conviction that public money could be used to support private corporations when they came unstuck through malpractice.
The banks know they have got away with this robbery once but could not do it again without public revolution and so they have contrived a new game to take away the risks their gambling increasingly lays them (and us) open to. We are told that global regulators have proposed new rules to ensure that bank creditors and not taxpayers will now pick up the bill when a bank goes bust.
I have two fundamental issues with this statement. Continue reading