What will happen the next time the largest banks in America gamble their way into chaos? Will taxpayers bail them out again or will the "stakeholders" be forced to make up the losses?
You put your money in a bank and you're a stakeholder. The Cyprus crisis demonstrates that top European officials are more than willing to snatch a percentage of investor deposits, even when those deposits are supposedly insured. Yes, the U.S. is not Cyprus. But, we can't dismiss the possibility that, should Wall Street take down the economy again (a near certainty), the idea of making |