skye
Diamond Member
- Oct 19, 2012
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Are you SHOCKED that rich parasites are unethical cretins?Marx and his ism may be dead, but capitalism still contains the (private) seeds of its own destruction:
"Regulators are worried about the explosive growth of shadow banking, and they should be. Shadow banks were at the heart of the last financial crisis and theyll be at the heart of the next financial crisis as well.
"Theres no doubt about it.
"Its simply impossible to maintain a system where unregulated, non-bank financial institutions are able to create their own money (credit) without oversight or supervision."
Shadow Banking » Counterpunch: Tells the Facts, Names the Names
The rich in all nations can't stop stealing for the same reason sharks can't stop swimming:
They will die, and they know it.
"Its simply impossible to maintain a system where unregulated, non-bank financial institutions are able to create their own money (credit) without oversight or supervision."
Which institutions are creating money (credit) and why do you feel they're unregulated?
Let's have some names.
"The money they createvia off-balance sheets operations, securitization, repo or other unmonitored mega-leveraging activitiesfeeds into the economy, creates artificial demand, lowers unemployment, and fuels growth.
"But when the cycle slams into reverse (and debts are no longer serviced on time), then thinly-capitalised shadow banks begin to default one-by-one, creating a daisy-chain of counterparty bankruptcies that push stocks into a nosedive while the economy slips into a long-term slump."
Shadow Banking » Counterpunch: Tells the Facts, Names the Names
You have a big chip on your shoulders georgephillip... did you know that?
I feel sorry for you!