Ellen Brown writes on how the Detroit bankruptcy seeks to sacrifice pensioners to pay off the big banks, appearing like the “bail-in” template pushed upon Cyprus which restructured their insolvent banks using depositors funds while sparing those from other banks and governments. Stephen Colbert sums up the situation with some levity as Detroit fights its way back to solvency.
Tag: bank bailouts
Prez Obama: “Progress was purchased through enduring the smack of billy clubs and the blast of fire hoses. It was bought with days in jail cells and nights of bomb threats. For every victory during the height of the civil rights movement there were setbacks.”