Dexia…or something…

There was this story about Dexia, which I should probably post here. While I was reading it, I was trying to figure out when we accepted this cycle of bank bailouts, austerity. Because I remember when the first bank bailouts went out, we all knew there would be consequences. Our media have been incredibly effective at normalising this suicide. Mario Draghi cited Dexia as an example of national supervisors(he really doesn’t get democracy does he..) had underestimated how much a rescue would cost. It struck me that has always been a problem, but then with banks being the key financial advisors of governments, it would be. Do you remember those teeny weeny bailouts when we hadn’t been dragged into thinking in trillions.

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