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So our savings are next for the chop!

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Comments

  • #92
    Scofflaw
    Registered Users, Registered Users 2 Posts: 23,283 ✭✭✭✭Scofflaw


    Amberman wrote: »
    Or get it out of the banking system all together.

    Honestly, I think these Eurocrats are far too stupid to recognise the consequences of their actions. This is a royal screw up.

    People have complained bitterly all the way through that banks have been saved at cost to the taxpayer, and are now complaining bitterly that they haven't been saved at a cost to depositors. But banks can't be saved without money coming from somewhere, and can't fail without costing somebody something.

    Everybody wants everything to be a cost-free exercise.

    cordially,
    Scofflaw


  • #93
    Amberman
    Registered Users, Registered Users 2 Posts: 559 ✭✭✭Amberman


    Scofflaw wrote: »
    People have complained bitterly all the way through that banks have been saved at cost to the taxpayer, and are now complaining bitterly that they haven't been saved at a cost to depositors. But banks can't be saved without money coming from somewhere, and can't fail without costing somebody something.

    Everybody wants everything to be a cost-free exercise.

    cordially,
    Scofflaw

    I've been complaining bitterly that they've been saved at all...as you know. If foolish depositors get wiped out, so be it. They're highly unlikely to get wiped out twice. Public deposit insurance shouldn't exist, that way, crowdsourced bank ratings would spring up...(Reggie Middleton springs to mind) and weak a reckless banks would be starved of depositors until they changed their ways.

    Bailouts don't have to happen. There are better ways.


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