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View Diary: How Some Democrats Enabled Failure and Shoved it Down Our Throat (89 comments)

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  •  I'm talking about the debt ceiling crisis (0+ / 0-)

    The Eurozone has to do with inept Monetary policy and corrupt ECB policies in relation to the global Housing bubble/Goldman Sachs hiding Greek debt etc..

    The banks should have been nationalized. You should know this, northern Rock was nationalized and broke up and liquidated. It happened in Sweden an here during the S&L crisis. Saying "oh the system is too international" didn't stop countries with successful banking resources even though our system has been national for a long time. The US and UK poisoned most of the known world financial system. Stop that and you take away the tools of the shadow banking system, especially insurance which are what CDS are.

    It's not too late, but there is no political will.

    Pro Life??? Conservatives want live babies so they can raise them to be dead soldiers!- George Carlin

    by priceman on Thu Aug 04, 2011 at 11:18:42 AM PDT

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    •  Er... neither UK nor US in Eurozone (0+ / 0-)

      This is a bond market insolvency problem there.

      "It is only for the sake of those without hope that hope is given to us." Walter Benjamin. More sane debate on the Moose

      by Brit on Thu Aug 04, 2011 at 11:41:13 AM PDT

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      •  I know. I never said they were (0+ / 0-)

        Which is why I specifically referred to the European central bank which isn't the Fed.

        I was answering what was wrong with the Eurozone which is why i talked about Greece.

        The UK has it's own Central bank like we do.

        Pro Life??? Conservatives want live babies so they can raise them to be dead soldiers!- George Carlin

        by priceman on Thu Aug 04, 2011 at 11:44:25 AM PDT

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