What happened? Banks borrowed money from lenders around the world. The bankers then kept a big chunk of that money for themselves, calling it “management fees” or “performance bonuses.” Once the investments were exposed as hopeless, the lenders — ordinary savers, foreign countries, other banks, you name it — were repaid with government bailouts.
In effect, the bankers had siphoned off this bailout money in advance, years before the government had spent it.
But remember, these are the brightest minds in the world. Instead of devoting themselves to finding new sources of energy, they have created bigger and bigger schemes; in the process, they have undoubtedly raised our taxes, which is ironic given the schemers’ likely political disposition. Though not corruption in the traditional sense, it is spiritual corruption.
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.