what a bit bigger divakar all that would've been the government taking over
the amanda snow would still weighing in italy which is really needed their
expertise
we had to give
all of the money to the banks
and almost none of it to the home office
why it is a good eventually help the middle class
now did it get a trickle down to us no not really the banks kick mainly tactic
and that's why we're so in a ripe we haven't really recovered after all these
years
bike day we were told we had no other choice but that's interesting because it
turns out there is another choice
that i saw the side of pursuit
back in two thousand they they also had an epic collapse and in fact their banks
defaulted on eighty five
billion dollars
especially for the size of ice and that is john again take
so they had an enormous from in fact their debt to income ratio back in two
thousand eight
wasn't
unbelievable two hundred and forty percent
so the size of their prom was even larger than the size of our problem
when you look at a per capita and
proportionally
so huge problem well than obviously you need to make sure the banks are afloat
right otherwise so they can take the action
that they need to take
uh... here's a big lies in the senate is that
were coming for
and now in their protests but there was some the thrower rocks of the parliament
building
and saying one that had taken scrap
so instead this is the route that they went
they indicted there uh...
former prime minister india hotbed
love course i have no idea actual pronounce his name
so for all the mispronounce it shows and then
they decided well that's not enough so let's go ahead and
arrest of former chief executives of the three biggest facts
so there they go
and over two hundred
criminal charges
uh... for the bankers them wait we were told you earlier i said well you can't
house you can't
that will destroy their car
in fact not only the view that the former c_e_o_ of pablo their top banks
lands back in our lives
that's the instance altair confide
they bradley manning
we bradley many people who are actually try to expose of the governors doing
wrong
they knew it for people who actually destroyed their economy
who's more logical let's find out so what was the result of all this well
that this is interesting
uh... they decided to
it too
give actual relief to the homeowners so what they did was a friggin get
exceeding often ten percent
of home value
so if you are under water and it was about a hundred ten percent they just
for gay that that portion of the debt
now here in the u_s_ that makes
people in power spreading so i think he is here in sf all people love the
bankers aggressive let me know that i love those guys
although it's a great trip by the bankers in today's loans with exploding
interest rates
but now we can't darren but wait iceland and so we'll see how that turns out
and then an animal lost equivalent uh... too
anyhting
percent or the gross domestic product that's that
again we were told what
if something that i don't really think about want to get you know they don't
now i don't do it
and the deck was relieved for more than that
quarter of the population
again here they would say we that's actually helping real citizens
that we should definitely the colony
infected person
so how did turn out al
look at this in two thousand nine
their economy to act
that shrank by six point seven percent
so optic
i guess they were right right axles economy argos out in two thousand in
nine
two six four seven with down six point seven percent
all all plea and the for the numbers you will hear it all the times that
that in the in syria's in twenty ten
they went up two point nine percent
and then in twenty eleven it went up to board four percent
in fact
it is now doing much better the european union
and is even doing better than the organization for economic cooperation
and development
those are all the developed countries
so their beating the rest of the world
but when i i thought that if we went after the bankers that our economy would
never approved
that we would be in desolate condition and we would be in a depression that we
couldn't possibly recover from
it turns out to be the actually help your citizens
and jail the bankers
it actually helps your connie greatly now
by some of the wattage of your being more but why are we doing those losers
those guys are still try to prop up there's a their banks their bank
executives this'll follow link that money to all those guys and doing
posterity for their citizens cutting from their citizens and giving to the
bankers that is a proven failure of a strategy didn't work in europe
it hasn't worked in the united states of america
the one place where they did
at the time cooper was set up by said citing johnson said so many other that
top economist said
pain while we nationalized the banks
why don't we give relief to actual citizens instead of the top bangs there
is a cause a collapse
well they tried it in iceland and it works
it work better than almost anywhere else on the world
finally that ratings
which gives them uh... you know
of course the ratings based on you know
how well they're doing house the more they are etcetera
had to conclude at the end quote
though unorthodox crisis policy response
has
succeeded
who was so on four th the docs
to actually give
the advantage the citizens rather the bankers
but shockingly enough it has succeeded
their is another way of doing it
iceland it'd it worked
it would also work here in the united states buses are politicians are corrupt
and captured by those top banking
and multinational corporation
executives we will not do that
as our politicians do not work for the population
they have no interest in helping the population
they work
for the banking executives and all their other top donors
so don't let him lie to you and tell you although we have to help the bankers
otherwise there's no way to help the economy
is exact bob to the truth if you actually went after the bankers
you would help the economy
india had gave you needed any more reason they hate tim geithner
well this is the word for it