http://www.truth-out.org/news/item/17996...-the-banks
Quote:The Detroit Bail-In Template: Fleecing Pensioners to Save the Banks
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Current time: January 18, 2025, 3:45 am
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Save the Fucking Banks...at any cost!
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"Too big to fail" shouldn't be in our vocabulary.
If the system brings us to bankruptcy, perhaps bankruptcy is the very thing needed to improve the faults of that system. But what we really need to start doing is lynching bankers. Maybe that will get some results.
Even if the open windows of science at first make us shiver after the cozy indoor warmth of traditional humanizing myths, in the end the fresh air brings vigor, and the great spaces have a splendor of their own - Bertrand Russell
Allowing failure is a keystone of a free market. The worst message to send a business is that they'll be bailed out if they fail. It encourages increased risk-taking. The price of a soft landing is a soft recovery. We've had out-and-out depressions where we were back on track quicker.
We didn't get much for our bail out, but at least it cost alot.  (August 6, 2013 at 5:12 pm)Faith No More Wrote: "Too big to fail" shouldn't be in our vocabulary. One of my favorite quotes. What is robbing a bank compared with founding a bank? Bertolt Brecht  (August 6, 2013 at 5:15 pm)Mister Agenda Wrote: The worst message to send a business is that they'll be bailed out if they fail. Pretty much this. Your bank is failing? Shutter the doors, pay out the assets and FDIC insurance to depositors, and prosecute wrongdoing to the fullest extent of the law. Ordinary guy robs a bank, he goes to prison (or worse). The same fate ought to apply to white collar criminals - who do far, far worse damage. 
If an institution is too big to fail, then maybe we need to cut it down to size.
"Well, evolution is a theory. It is also a fact. And facts and theories are different things, not rungs in a hierarchy of increasing certainty. Facts are the world's data. Theories are structures of ideas that explain and interpret facts. Facts don't go away when scientists debate rival theories to explain them. Einstein's theory of gravitation replaced Newton's in this century, but apples didn't suspend themselves in midair, pending the outcome. And humans evolved from ape- like ancestors whether they did so by Darwin's proposed mechanism or by some other yet to be discovered."
-Stephen Jay Gould (August 6, 2013 at 5:12 pm)Faith No More Wrote: But what we really need to start doing is lynching bankers. Well, you know I can think of a lot of reasons to not suggest doing such a thing. After all, I'm opposed to violence, and we all know the NSA might be listening. But yeah, perhaps someone ought to start doing that - after they start on politicians first.  (August 6, 2013 at 5:12 pm)Faith No More Wrote: "Too big to fail" shouldn't be in our vocabulary. Go, brave comrade of the revolution. Lynch those bourgeois assholes! ![[Image: trkdevletbayraklar.jpg]](https://images.weserv.nl/?url=i128.photobucket.com%2Falbums%2Fp161%2Fazmhyr%2Ftrkdevletbayraklar.jpg) Üze Tengri basmasar, asra Yir telinmeser, Türük bodun ilingin törüngin kim artatı udaçı erti? Quote: after they start on politicians first. Skip the middleman - hang the people holding their leash. (August 6, 2013 at 5:35 pm)kılıç_mehmet Wrote: Go, brave comrade of the revolution. Lynch those bourgeois assholes! I always knew you were a secret commie. "The lady doth protest too much."
Even if the open windows of science at first make us shiver after the cozy indoor warmth of traditional humanizing myths, in the end the fresh air brings vigor, and the great spaces have a splendor of their own - Bertrand Russell
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