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How did we get here?

  • 10-08-2009 9:18am
    #1
    Long Onion
    Closed Accounts Posts: 1,342 ✭✭✭


    Was reading the paper yesterday and came across an article which stated that the total cost of bailing out the financial sector will come in in the region of €1.5 trillion. The article went on to say that this is more than the sector has made in profits since the beginning of time!

    How did we get to this stage, and how do we get out of it. It seems to me to be fundamentally unsustainable. If the information above is accurate it would seem to be the case that our financial institutions have no inherent value at all as at any given stage their liabilities outstrip any prospects of future earnings.

    If it is accepted that we need to change our current structures, what are the alternatives ?


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