7 years ago the federal reserve gave failed, fraudulent private banks free money on the backs of the people.
Now in Europe, the bad loans to Greece are going to be carried on the backs of Germans and other Europeans, because the European Central Bank took failed, private investment loans to Greece and made them public losses.
These banks certainly don't give out bonuses to the public when they're doing well, so why do we have to pay for their fraud and mistakes?
Why does everyone just accept the policy of private profits and socialized losses?
Most Helpful Guy
I don't think it has to do with accepting it because we want to so much as we have such a convuluted system that seems to have removed the voice of the people and given it to the banking industry/corporations. Its just something everyone feels like they can't fix so its a gruding acceptance born of a sense of helplessness.1