Time to jail the Bankers?
I have blogged on the bankers before who I believe have ‘privatized the profits and socialized the losses’. We have paid for their mismanagement. After the 2008 financial disaster you would have thought that the bankers would have learnt. The reality is of course few went to jail and the consequences was financial misery for many normal people losing their jobs, their house and so much more. Of course Thomas Jefferson warned of this in a letter to John Taylor in 1816 : “And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." Of course it was Gordon Brown in the UK and President Clinton in the US who took away the restrains that kept apart the banking and casino speculation of banks that had been put in after the 1930s recession. Only a year ago there was the Libor interest ra...
