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No doubt you know your trade. The problem is that it's more of a witchcraft and the way you smoothly lay things out here in the complex intricacies of the finan
by znowi 14y ago
No doubt you know your trade. The problem is that it's more of a witchcraft and the way you smoothly lay things out here in the complex intricacies of the financial sector evades people from the simple fact that the banks fucked up. And the question of who bears the burden is only a question for the banking industry, in how to leverage public funds to cover their losses.
- tatsuke95 14y ago>"the simple fact that the banks fucked up" The banks are run by citizens and funded by citizens. So when the banks "fuck up", it's going to end up on those same citizens. There is no way to isolate losses to some "bank" entity.
- ux500 14y agoYes! Socialized losses and privatized profits! It's "capitalism"!
- angersock 14y agoEr, I'd be rather surprised if some of the banking entities were not established by foreigners and monies not actually coming from their country of operation. Hell, Harris Bank in Chicago is owned by Bank of Montreal--so, unless I'm grossly misunderstanding the situation, it would be entirely possible for Canadian executives to set policies that could affect clients in the US. That's not those citizens' faults. I think you have an incorrect view here.
- tatsuke95 14y ago>"I think you have an incorrect view here." The majority of shares are owned by American citizens and the executive and board are mostly Americans.