You'd laugh darkly if Kurt Vonnegut had made this stuff up. It seems bizarre, absurd and deeply irrational. The ultimate example of scammers and crooks privatising the profits and now socialising the losses and you know in your heart that it was never, ever going to be any other way.
For our own good, of course. There is something almost inevitable about it all.
In another Vonnegut moment, the solution to the resulting mess involves requires giving most of a trillion (US$) to the bank, but the folks putting up the money don't get to own anything they put money into. That's "nationalisation" and nationalisation is a bad thing, so we are told. So hand over the money, but the banks still belong to the folks who ran them into the ground.
The last Vonnegut twist is that some of the initial bailout cash to the folks who made the mess was being used to pay themselves bonuses and dividends......until that was judged to be too absurd (in the US, anyway) and stopped.
It seems that no matter what happens, the same folks always end up with their hands on the money.
Kurt Vonnegut would have loved these times.....while being as appalled as anyone by them. I doubt he would expect anyone to quietly accept the nonsense being dished up as The Only Way.
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