Hypothetically

The banks borrowed money from abroad.

They lent us the money to buy our homes.

The banks go bankrupt because they lent too much money to their owners and their other businesses.

The banks don’t pay their loans abroad.

We still have to pay the bank.

But now with extremely high interest rates and negative home-equity because the banks lent too much money to their owners and their other businesses.

The banks’ assets are transferred to another banks, new ones with similar names and the same people at the helm.

And then the owners of the former banks will be handed the new banks again.

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1 Response to “Hypothetically”


  1. 1 Roy November 23, 2008 at 10:32 am

    The Swiss have a “direct” democracy system which is worth looking into.

    http://en.wikipedia.org/wiki/Direct_democracy

    Here is an example of where it might be used:

    http://news.bbc.co.uk/2/hi/programmes/from_our_own_correspondent/7741561.stm


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