Posted by: nativeiowan | March 31, 2011

A bit of Celtic common sense…

Was listening to the radio as I went and ran some errands. An Irish economist discussing the huge bailouts happening in the European banking system…

Of course the question of why the banks, after being so stupidly greedy, deserve billions of tax payers $$$? Why are these banks not encouraged to simply fail? Declare bankruptcy? Isn’t that the capitalist way?

As the Irishman said… “…capitalism without bankruptcy is like catholicism without hell”.

A bit of very good, Celtic, common sense.


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