3rd March 2010
If today’s speculators bring down the Greek economy, they will likely blow up more debtor nations, and then in a cascading effect, turn on their main benefactors, the now heavily indebted British and United States governments.
Citizens are rightly angry at the way both the Bush and Obama administrations, aided by Governor Ben Bernanke — pretty well unconditionally bailed-out the bankers of Wall St., just like governments in Europe and Asia.
While politicians and regulators rushed to dampen the flames of financial crisis with taxpayer funds, what happened to those guilty of financial arson?
Besides the odd rogue and loner like Bernard Madoff, none has gone to jail for crimes against the people, as far as I know.
As if to rub our collective noses in it, bankers have paraded their contempt for both politicians and taxpayers by using bail-out resources to post massive capital gains and bonuses. It’s hard to believe they could be guilty of worse.
But believe it you must. For now these self-same bankers are turning on their rescuers — the governments that bailed them out.