Carlin: Wall Street Owns Washington

The Huntsman Alternative: Bust the big banks


The Huntsman Alternative
By Simon Johnson

The eurozone financial situation continues to worsen. The latest idea from the eurogroup of finance ministers is apparently to have the European Central Bank make a massive loan to the International Monetary Fund, which would then turn around and lend to countries like Italy. This is a bizarre notion. If the IMF takes the credit risk of a mega-loan to Italy – e.g., an amount around the $600 billion mark, greater than the fund’s current lending capacity – this would represent an unprecedented and unacceptable risk to the IMF’s shareholders, including U.S. taxpayers. If the IMF does not take this credit risk, what’s the point? The ECB should provide financial support directly to Italy, if that is the goal.

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Most of them are going to be busted anyways when the system reaches maximum potential and implodes.

if it were possible to avoid the implosion…the top would have.

There is no record in all of recorded history of escape from the logical conclusion of the take more than you give equation.

The banking system you see now is like the system in 1930…it was bailed out back then…the main event didn’t happen until 1933 when the entire banking system of the USA went bankrupt.

the exact same thing is basically going to happen again.

There is no way to avoid the logical conclusion…Just postpone arrival at it…