3 ms·
AFAIK Poland didn't bend the knee and didn't do bailouts, Iceland partly nationalized banks in exchange for bails. The cold harsh truth is that majority of cou
by me_me_me 7y ago
AFAIK Poland didn't bend the knee and didn't do bailouts, Iceland partly nationalized banks in exchange for bails.
The cold harsh truth is that majority of countries were conned or coerced into bail-outs or else 'your economy will collapse'.
What kind of industry can afford to take a risk and never be punished for it? ...well its no longer a risk if you can never loose, therefore you can afford to gamble more and with increased risk. After all all profits are yours and all loses are paid by someone else.
And we are probably on the way to next bailout round as there were only a band-aid solution to appease tax payers.