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View Diary: Bank Run in Cyprus, Will it Spread to Southern Europe? (322 comments)

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  •  Yeah, I can just (1+ / 0-)
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    see ordinary depositors poring over bank statements and investments to assess risk.  Especially since the credit rating agencies are oh so reliable.

    You have it backwords.  The decision makers at the banks benefitted from having depositors that provided the $$ for the bad investments resulting in undercapitalization.  One way or another, those decision makers need to pay the price - not the ordinary depositors.

    The banks have a stranglehold on the political process. Mike Whitney

    by dfarrah on Sun Mar 17, 2013 at 10:33:36 AM PDT

    [ Parent ]

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