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Nationalise the banks
fredondo
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1
4-10-2009 11:57 AM
156 views
tags:
money
,
credit
,
finance
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4-10-2009
12:42 PM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b0b97067-a45e-43d6-bd62-320810a895f2/65735393-B3B7-4734-9366-6C539A772ACE/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://mondediplo.com/2009/04/01banks" href="http://mondediplo.com/2009/04/01banks" style="font-size: 11px;">mondediplo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mondediplo.com/2009/04/01banks"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/mondediplo.com/img/919B98E2-FA6D-4893-93D4-D61ED16DBFCD" alt="Le Monde diplomatique" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mondediplo.com/2009/04/01banks"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/mondediplo.com/img/2275B853-288F-49DF-9621-C109C9129B3F" alt="English edition" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mondediplo.com/2009/04/01banks"><DIV class="surlignable"> <DIV class="cartouche"> <H1 class="crayon article-titre-5297 entry-title">Nationalise the banks</H1> </DIV> <DIV class="lesauteurs">by Serge Halimi</DIV></DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mondediplo.com/2009/04/01banks"><P>The ills besetting the financial system are currently devouring the global economy on which it relies. When one bank collapses another buys it, ensuring that the state will have to rescue it because it is now too big to fail. All of a sudden, with a knife to their throats, taxpayers everywhere are paying thousands of billions of dollars to bail out the biggest financial institutions. No one knows how many toxic assets are still concealed in their innards or how much more will have to be paid to buy up the rising mountain of tainted loans – a clear consequence of financial deregulation.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mondediplo.com/2009/04/01banks">Once upon a time, it seems bankers had a nice easy life. They subscribed to the US “3-6-3” principle: borrow at 3%, lend at 6% and off for a round of golf at 3 o’clock. It did not take a regiment of mathematicians armed with econometric models to master this simple exercise. Then in the 1980s, everything changed. </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/65735393-B3B7-4734-9366-6C539A772ACE/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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