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© Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.Europe debt crisis rolls on as Irish bailouts grow
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TumbleDry
How to create money out of thin air then run to bankruptcy? Read the fractional reserve banking system.
GJDailleult
If you breed too many rabbits and get an over-population crisis and they start dieing, well then you cull the rabbits. And if the rabbit breeders go broke and all their rabbits die, so what? New rabbit breeders can take their place. You don't try to replace the dead rabbits of the people with lots of rabbits by taking rabbits from people with not so many rabbits. But that is exactly what they are doing in Ireland.
There are lots of arguments pro and con for government getting involved in subsidizing productive businesses. There are none for subsidizing a bank. The government has to cover the depositors and counter parties losses to keep the system from collapsing, but otherwise let them go under (as was done in Sweden in the 90's). The only reason money is being pumped into the Irish banks is because the banks have the political power to make that happen. The bastards are willing to take Ireland down to save their own butts, and it is not going to end with Ireland.
cleo
I never knew Ireland was famous for its rabbits.
dontpanic
"I never knew Ireland was famous for its rabbits". Me neither but they seem to have done something to upset GJDailleult.
GJDailleult
hehe - the rabbits are the money. And lots of people want your rabbits because theirs are dead or dieing. Not just in Ireland, so be careful all.