The big banks strike again. Despite the middle class being crushed by debt and low income people trapped by incompetent governments, the politicians are prepping another bailout – this time for Germany’s Deutsche Bank.
No bailout for regular people of course, but there always seems to be more money for the banks.
Despite government policy skewed towards banks for years, it’s still not enough. With Germany – supposedly the safest investment in Europe – now watching one of their banks teeter on the brink of collapse, the underlying failure of broken economic policy is laid bare.
Deutsche Bank is facing the consequences for mis-selling mortgages, another example of how the banks took advantage of people and then tried to evade all responsibility.
They were aided in doing so by many of the elitist politicians who hobnobbed in all the same social circles as the banks.
The banks operated with total impunity, knowing that politicians would use taxpayer money to bail them out, no matter how irresponsible they were or how many people they took advantage of.
That’s exactly what happened. The banks took massive risks, and when it blew up in their faces they ran to the politicians begging for cash.
Deutsche Bank probably expects the same thing here. They will run begging to the government and the government will take money from the people and shovel it into the pockets of the banks.
We know exactly what will happen: Nothing will be learned, nobody will be punished, and nothing will change.
When will leaders realize that until we help those living paycheque to paycheque get some financial security and independence, we will keep having banking crises and serious systemic problems.
We can’t keep bailing out big banks while ignoring the millions of people who are struggling. Until the politicians and bankers stop leeching off the people and using them as nothing more than a source to extract money, things will keep getting more and more unstable.
This is why people say it’s a Rigged System. Because it is.
It’s time for a big shift in thinking. We must empower every individual and family to achieve financial security and independence. The days of the powerful prospering on the backs of the people must come to an end.