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Wednesday, April 18, 2012

IMF Chief Jackass Calls for Taxpayer-Funded Bank Recapitalisations...Mish Says Fire the Parasites and Disband the IMF

We always knew that the banksters are a shameless gang of plundering thieves but they've reached a new low. They are actually demanding that folks be taxed to recapitalized failed financial institutions. No longer is there any pretense that the central banksters exist to protect consumers and create economic stability. That myth was shattered long ago and now the only remaining reality is that citizens everywhere are being forced to bailout thieves.
IMF Chief Jackass Calls for Taxpayer-Funded Bank Recapitalisations to Avoid Painful Deleveraging; Mish Says Fire the Parasites and Disband the IMF Did taxpayers force banks to make stupid loans? If not, why should taxpayers bail out the banks and bondholders? Have the efforts to do that worked so far? Is Greece in better shape? Portugal? Did housing prices in the US recover after US taxpayers bailed out Fannie Mae and Freddie Mac bondholders such as PIMCO? Take a good look at Iceland. It is recovering because Iceland made banks and bondholders take a hit. Instead, the IMF wants to burden already over-burdened taxpayers so the likes of banks and bondholders (the wealthy class) can be made whole.
Read the rest here
Mish's Global Economic Trend Analysis 

Judy Morris,
Blogger, THL
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