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Post has been Discarded

Punk Economics: Lesson 2

submitted by radx

1 decade 2 years 3 months 3 weeks ago

Irish economist David McWilliams explains the ECB's massive cash for trash scheme -- bailing out banks with your money. [/YT]

4 Comments

if it looks like banks are just sucking out money from hapless europeans, congratulations. You understand it.

Greed caused the too-big-to-fail banks to take on impossible amounts of debt. now that the bankers got their bonuses, and the banks are in jeopardy, the hedge funds will be making huge returns for the ultra-rich. Literally, it's a vacuum for money as these bad debts stay on the books.

Moving this video to radx's personal queue. It failed to receive enough votes to get sifted up to the front page within 2 days.

*discard

Discarding this post - discard requested by original submitter radx.

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