Now I read the bankrupt banks in Spain are getting bailed out by the European Union. Does this sound familiar? It’s not the suffering and jobless populace that are being helped, but the very institutions that caused the recessions in the first place.
We’ve repeatedly had the same problem here in the U.S. Banks that are integral parts of the economy overextending themselves and disrupting the economy, then begging for salvation by taxpayers.
My solution, which I know goes against some core capitalist beliefs, is for the electorate to control the banks. If they are unable to control themselves, it may be time for us to impose our control on them.
Sean Coyle
Vancouver
