Here’s a great chart put together by the New York Times. It shows the degree to which government debt issued by profligate nations such as Greece and Spain is owned by banks in Germany, France, and the United Kingdom. It is quite reasonable to describe what happened as an indirect bailout of domestic banks dressed up as a bailout of the Mediterranean nations.
[...] rich to exploit the poor. This accusation actually is true, but not in the way Mr. da Silva means. This post, using a chart put together by the New York Times, shows that the bailouts are mostly for the purpose of bailing out the big European banks that [...]
[...] The bailout happened in part because politicians and international bureaucrats (when they’re not busy molesting hotel maids) have a compulsion to squander other people’s money. But it also should be noted that the Greek bailout was a way of indirectly bailing out the big European banks that recklessly lent money to a profligate government (as explained here). [...]
[...] The bailout happened in part because politicians and international bureaucrats (when they’re not getting arrested for molesting hotel maids) have a compulsion to squander other people’s money. But it also should be noted that the Greek bailout was a way of indirectly bailing out the big European banks that recklessly lent money to a profligate government (as explained here). [...]
[...] Some people have asked me why German politicians are so willing to bail out Greek politicians. This picture explains everything. The bailout is really a backdoor giveaway to the big European banks that foolishly lent money to [...]
[...] Some people have asked me why German politicians are so willing to bail out Greek politicians. This picture explains everything. The bailout is really a backdoor giveaway to the big European banks that foolishly lent money to [...]
[...] Some people have asked me why German politicians are so willing to bail out Greek politicians. This picture explains everything. The bailout is really a backdoor giveaway to the big European banks that foolishly lent money to [...]
[...] The Real Reason for the European Bailout It is quite reasonable to describe what happened as an indirect bailout of domestic banks dressed up as a bailout of the Mediterranean nations. [...]
[...] of the big nations, which means that they are indirectly attentive to interest groups (such as big banks) that have political power in those big [...]
[...] money after bad with another bailout. Well, if you’re a politician from Germany or France and your big banks (i.e., some of your major campaign contributors) foolishly bought lots of government …, the answer might be yes. After all, screwing taxpayers to benefit insiders is a longstanding [...]
[...] money after bad with another bailout. Well, if you’re a politician from Germany or France and your big banks (i.e., some of your major campaign contributors) foolishly bought lots of government …, the answer might be yes. After all, screwing taxpayers to benefit insiders is a longstanding [...]
[...] money after bad with another bailout? Well, if you’re a politician from Germany or France and your big banks (i.e., some of your major campaign contributors) foolishly bought lots of government …, the answer might be yes. After all, screwing taxpayers to benefit insiders is a longstanding [...]
[...] that politicians from rich nations are trying to indirectly protect their banks, which – as shown in this chart – are in financial trouble because they foolishly thought lending money to reckless welfare [...]
[...] is that politicians from rich nations are trying to indirectly protect their banks, which – as shown in this chart – are in financial trouble because they foolishly thought lending money to reckless welfare [...]
[...] that politicians from rich nations are trying to indirectly protect their banks, which – as shown in this chart – are in financial trouble because they foolishly thought lending money to reckless welfare [...]
[...] But when you strip away the hysterical rhetoric, what they’re really saying is that bailouts are needed for the banks in their own nations that foolishly lent too much money to reckles…. [...]
[...] If you have any French government bonds, sell them now. If you don’t believe me, look at this graphic from the New York Times. GA_googleAddAttr("AdOpt", "1"); GA_googleAddAttr("Origin", "other"); [...]
[...] on their editorial pages, this powerful expose of IRS abuse by a business columnist, and this great graphic on the connection between big banks and government bailouts in Europe. Rate this:Share [...]