GoFuckYourself.com - Adult Webmaster Forum - View Single Post - IMF calls for system 'reboot' or all bailouts will be wasted

teomaxxx · 01-29-2009, 06:31 AM

http://www.independent.co.uk/news/uk...e-1519067.html

"The IMF says tax cuts and public spending and borrowing boosts all over the world will be useless unless the financial system is rebooted.

Its managing director, Dominique Strauss-Kahn, warned: "If there's not a restructuring of the banking system, all the money you can put into [monetary and fiscal] stimulus will just go into a black hole.""

Thats it. All bailout money are wasted, unless politics stop to support capital sucking blackholes (aka 90% of banks) and let them bankrupt. There is not enough money to cover all their loses (it only started with housing, watch for much more and bigger problems like CDS).
The current system cant be saved, it have to be rebuilded again.

01-29-2009, 06:31 AM
teomaxxx Confirmed User Join Date: May 2003 Posts: 2,734	IMF calls for system 'reboot' or all bailouts will be wasted http://www.independent.co.uk/news/uk...e-1519067.html "The IMF says tax cuts and public spending and borrowing boosts all over the world will be useless unless the financial system is rebooted. Its managing director, Dominique Strauss-Kahn, warned: "If there's not a restructuring of the banking system, all the money you can put into [monetary and fiscal] stimulus will just go into a black hole."" Thats it. All bailout money are wasted, unless politics stop to support capital sucking blackholes (aka 90% of banks) and let them bankrupt. There is not enough money to cover all their loses (it only started with housing, watch for much more and bigger problems like CDS). The current system cant be saved, it have to be rebuilded again.