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Want To Ruin Your Own Country? Assume Your Banks? Liabilities

By Implode-Explode Heavy Industries

``When the Global Financial Crisis hit in late 2008, the governments took over the liabilities of the financial sector?and in the two years since that terrible, terrible decision, that single move has turned what was once a problem of financial sector insolvency into a problem of sovereign nation insolvency... The inherent instability in all of the markets today is a product of this decision back in 2008?the decision to socialize the financial sector?s losses, instead of letting the insolvent institutions fail.''

Full post as published by Mortgage Lender Implode-o-Meter on December 16, 2010 (boomark / email).