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<blockquote data-quote="vantexan" data-source="post: 5653490" data-attributes="member: 24302"><p>Goodness you&#039;re mixed up.&nbsp; The U.S. bailing out its banks isn&#039;t the same as European banks refusing to write off debt a member nation of the EU incurred.&nbsp; One is a government dealing with banks.&nbsp; The other is just the opposite, banks dealing with a government.&nbsp; The first has both taxes it takes in and money it can receive through the sale of government instruments.&nbsp; The other is about banks having a fiduciary responsibility to protect its depositors.&nbsp; They can&#039;t just write off debt.&nbsp; Greece was irresponsible.&nbsp; You want banks to keep feeding them money when they had demonstrated they couldn&#039;t service the debt they had already incurred.&nbsp; Forgive them and start over giving them more money.&nbsp; Doesn&#039;t work that way.&nbsp; The reason Germany is able to bail out its banks if needed is because Germany is an economic powerhouse that is responsible.&nbsp; Greece tried to give its citizens perks that were incredibly generous.&nbsp; But Greece isn&#039;t an economic powerhouse.&nbsp; Nor were they responsible giving those perks when they knew they couldn&#039;t pay for it.&nbsp; Did it anyways.&nbsp; You just told us the EU&#039;s central bank isn&#039;t allowed to bail out banks.&nbsp; Then why should private banks bail out countries they lend to if they themselves can&#039;t be bailed out?&nbsp; You&#039;re telling us if countries aren&#039;t responsible then the banks who lent to them should be irresponsible too.&nbsp; Give until they collapse.&nbsp; Doesn&#039;t work that way and never has.</p></blockquote><p></p>

[QUOTE="vantexan, post: 5653490, member: 24302"] Goodness you're mixed up. The U.S. bailing out its banks isn't the same as European banks refusing to write off debt a member nation of the EU incurred. One is a government dealing with banks. The other is just the opposite, banks dealing with a government. The first has both taxes it takes in and money it can receive through the sale of government instruments. The other is about banks having a fiduciary responsibility to protect its depositors. They can't just write off debt. Greece was irresponsible. You want banks to keep feeding them money when they had demonstrated they couldn't service the debt they had already incurred. Forgive them and start over giving them more money. Doesn't work that way. The reason Germany is able to bail out its banks if needed is because Germany is an economic powerhouse that is responsible. Greece tried to give its citizens perks that were incredibly generous. But Greece isn't an economic powerhouse. Nor were they responsible giving those perks when they knew they couldn't pay for it. Did it anyways. You just told us the EU's central bank isn't allowed to bail out banks. Then why should private banks bail out countries they lend to if they themselves can't be bailed out? You're telling us if countries aren't responsible then the banks who lent to them should be irresponsible too. Give until they collapse. Doesn't work that way and never has. [/QUOTE]

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