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Gypsy
Member since May 2012
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I Rest My Case

- Peter Souleles -

Back in the day, Bankers and Loan-Sharks were just alike. As an example: let's say Loan-Shark Marshall would loan Customer Vinny $100 at 5-for-7. To keep it even, let's say Banker ABC loaned Max $1000 on a car. If Vinny defaulted: he got broken arms. If Max defaulted: ABC got his car. Nowadays, ABC is running BOTH operations: unsecured loaning at USURY (loan-shark) rates AND loaning at standard rates on secured assets. When any loans default: everyone gives their money to ABC.

The reason Marshall is gone now is because Marshall couldn't RE-CAPITALIZE by taking the money from people on the street: like ABC can.

The old axiom has proven true: Give a man a gun and he can rob a bank ~ or ~ give a man a Bank and he can rob EVERYBODY ! !

Commented 4046 days ago

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Beginning of the headline :"Instead of just letting shareholders in entities such as General Motors taking direct hits, they should also let depositors take a percentage hit on their savings as well. If losses are not flushed out of the system then no lasting improvement can be expected. Telling people that their savings are safe and guaranteed but then lumping bank losses and failures onto the public purse is a circuitous subterfuge that breathes life into a monster rather... Read More

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