No more Bank Bailouts it is the road to depression

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No more Bank Bailouts it is the road to depression

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Recapitalizing banks in 2008, costs largely born Tax Payers/working people. Lack luster economic recovery resulted, small businesses unable to access capital as Banks hoover up capital strengthen their own balance sheets.
Government Cuts are not the real problem in the economy. Recapitalizing Banks at the expense of small business and innovation is the problem. Quantitative Easing has had limited results apart from increased costs.
ECB / IMF now calling for Trillion Euro Bailout Fund.
Why should ordinary people pay again !
Let Banks fail, protect deposits with enlarged fund, nationalize Banks without honouring investment trading obligations.
Hayek advocated, Banks should be allowed to fail, re-allocates capital efficiently.
Rather than elite bankers including the IMF/ ECB claim another bank bailout necessary.
SAY NO TO MORE BANK BAILOUTS
Toby Chambers
Economist
Ex Keynes disciple and now Hayek supporter

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