‘… to subsidize bank led speculation by submitting weak countries to austerity measures or ‘bailouts’, thereby prioritizing payments to bondholder clients of mega-banks over economic stability.’

‘Much has happened in between; mass deregulation of international banking, technological advancements in trading, and the use of the World Bank (and the IMF and various central banks) to subsidize bank led speculation by submitting weak countries to austerity measures or ‘bailouts’, thereby prioritizing payments to bondholder clients of mega-banks over economic stability. The Big Six banks in the US, a subset of the 30 G-SIBs (global systemically important banks) enjoy a magnitude of government, central bank and multinational entity support that would have been unimaginable back then.’

http://www.nomiprins.com/thoughts/2015/3/23/presidents-bankers-the-neo-cold-war-and-the-world-bank.html?utm_source=twitterfeed&utm_medium=twitter

About stephenkmacksd

Rootless cosmopolitan,down at heels intellectual;would be writer.
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