2013 March 23 Saturday
Spanish Government Forced To Not Bail Out Bank Bond Holders
Read this Wall Street Journal article on government restructuring of Spanish banks: Spain Brings the Pain to Bank Investors. Forcing big losses on stockholders and bond holders was a politically costly step? I mean, really?
Forcing shareholders and bondholders to share the cost of restructuring the country's five nationalized banks was a politically costly step for the government of Prime Minister Mariano Rajoy, but one that was required under the terms of a European Union bailout of Spain's ailing lenders.
When did bond holders really become masters of the universe? The article says the EU in Brussels forced the Spanish government to make investors take a bath. The Spanish government wanted to protect investors in bankrupt banks why?
By Randall Parker at 2013 March 23 08:43 PM
Civilization has become a "fair" contest in which the winners are those who can capture the network effect value of society. Those who merely make productive risk investments and productively labor are suckers -- hence to be selected from the gene pool. We've got a breeding pogrom to conduct here and no one who has any kind of moral integrity is going to get in the way of this evolution of huge brains specialized for parasitism, fraud and manipulation of the moral zeitgeist to their advantage -- manipulation, say, redefining "moral integrity" to mean upholding this direction of evolution.
If you're jealous of these winners, then you're just being vindictive and deserve to die -- unless you repent and seek therapy for your pathology.
James Bowery said at March 24, 2013 7:23 PM: "If you're jealous of these winners, then you're just being vindictive and deserve to die -- unless you repent and seek therapy for your pathology."
Really? Well, these ass wipes you call "winners" are not so smart since they haven't been able to hide their plundering so well and now have 95% of the people hating them and wanting to lynch them, only since 2008. I'll give them no more than 10 years, 20 tops. Are YOU juealous of these so called "winners"? As if justifying manipulation and parasitism was the way of evolution.
You're so hilarious pretending to know what evolution is all about and what the "species" of the future will be like. You're wasting your talents here. You should write sci-fi books that could be turned into films about post-human beings, like "The Time Machine" or some crap like that. Then you won't have to envy all those good-for-nothing parasites everybody's so sick of.