Monday 22 February 2010

Doonesbury gets it

I know some banksters will be on here making little points in their defence, but there really isn't one: entire states are heavily indebted because they saved the banking system, which has demonstrated that it's learned absolutely nothing, and is currently engaged in making government bonds even more expensive - the bonds required to cover the cash spent reviving the banks. Click for a larger version

2 comments:

Adam said...

1) banks fail
2) govnt bails out banks with public money
3) govnt forced to borrow more money from the banks
4) banks worried about excessive public borrowing
5) country downgraded
6) ???
7) profit!

The Plashing Vole said...

That is the most perfect précis of the situation I've yet heard. Magnificent.