Days Black People Not Re-Enslaved By Trump

Thursday, March 21, 2013

How Greedy Are These Banks?

Take a look at Cyprus:
With anger growing, Cyprus’s president, Nicos Anastasiades, was set to propose a revised plan later Thursday to scrap a controversial tax on bank deposits. But if the government does not raise enough money through other means to satisfy creditors, that plan would need to be revised. And in a rare public mea culpa, the head of the euro zone finance ministers sought to defuse tensions by taking the blame for the proposal to levy a one-time tax on small accountholders as a condition of the bailout. The proposal was roundly rejected by the Cypriot Parliament on Tuesday.
Imagine.

You open an account with your bank. Your [relatively] meager savings stashed away earning a wee bit of interest. The bank had been using your deposits as leverage to make loans to people who should never have seen a cent. It speculated on whatever. It gets into trouble. What does the Big Fed people do? They decide that you should be charged a tax on your little savings. Why? Did YOU fuck up? Nope. You get taxed so the bank that used and leveraged YOUR money in bad (and possibly fraudulent) activities can stay in business.

This is how greedy these people are.