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> In short, over the course of at least five centuries, the financial system has grown more and more dependent on governmental support. More like: over the cou
by waihtis 5y ago
> In short, over the course of at least five centuries, the financial system has grown more and more dependent on governmental support.
More like: over the course of the last five centuries, financiers have grown more and more adept in outsourcing their losses to the government.
- tehjoker 5y agoTrue, but you also have to ask if they can actually function without government support in the current environment. The masters of the universe are the walking dead.
- cudgy 5y agoWhy do they need to function if they are inherently dysfunctional? Poor decisions should not be rewarded with top heavy bailouts.
- worrycue 5y ago> outsourcing their losses to the government. Didn’t the US government actually make a $109 billion profit from TARP when it was all said and done? https://projects.propublica.org/bailout/ https://projects.propublica.org/bailout/
- waihtis 5y agoInteresting site, thanks for it. I wonder if something similar exists for the EU bailouts.