Ellen Brown

[don]

"This was a major factor in bringing down Detroit. Chicago, L.A. and New York all have these burdensome interest rate swaps. They are all over.”

Can bank bail-ins come to America? Brown, who has written two books on the advantages of public banking, says, “It could, and I think it will. They don’t have any alternative if they are going to keep these banks alive. This is the solution: They just knock down the liabilities, and they will be solvent again, but what that means is they’ll be taking the depositors’ money. . . . "

[gwynedd1]

Re: Ellen Brown

I usually find myself quite at odds with "small government" advocates who bristle at the idea on nationalizing banking. Bad news. It is already nationalized in the worst possible way in that we pretend its market driven and private. Its profits are nothing but cash flows from government subsidized assets and it losses are socialized anytime it fails to prop up the assets that secure these loans....sick, sick, sick.

[don]

Re: Ellen Brown

It is already nationalized in the worst possible way in that we pretend its market driven and private. Its profits are nothing but cash flows from government subsidized assets and it losses are socialized anytime it fails to prop up the assets that secure these loans....

This defines more than the banks.

[gwynedd1]

Re: Ellen Brown

This defines more than the banks.

I submit to a hand of cards that have trump. You are right.