johnbee

Government Intervention and the Irony of Modern Capitalism

Well said - but the cause of this crash was US bankers lending good money from savers to bad risks to maximise sham profits from which huge salary commissions were paid. To keep the scam at bay they bundled bad loans with good to get AAA ratings. These were then securitised and sold on (or laid off) to banks all around the world who were either suckered or tunrned a blind eye to it as they made big profits also.This is pure fraud -not negligence- nor is it public greed- who had cheap loans thrown at them-. Bankers should know better and the high flyers need be jailed and stripped of their fraudulent gains to preserve the good name of capitalism or we will get socialism and lose democracy. This is the true moral of the tale.