Thursday, April 22, 2010
What the Goldman, Sachs scandal is about � Spengler | A First Things Blog: "Now, let me see–do I have enough fingers and toes to work this one out?–the governments are issuing gigantic amounts of debt to bail out the banks. The banks are making money levering up this debt, so it looks like there’s no more problem in the financial system. So to reduce the debt of governments, we should tax the banks’ balance sheet, which have ballooned as the banks bought government debt with zero-interest financing from the government, and made lots of profits…"
Posted by Don at 9:03 PM