Are we headed down the same trail as the Euros

[lupehernandezdepedajack]

Reports are going around about the possible "liberation" of private savings accounts in Spain and Italy.

I have also heard rumors about some in the USA considering private citizen's 401K's a tasty target for capital to fund the gubbamint

If true what's a poor boy to do?

 

[NightSwimmer]

Run Away!!!

The sky is falling!

 

[lupehernandezdepedajack]

Run Away!!!

The sky is falling!

Thats silly, you can't run from the sky if its falling.

 

[EatTheRich]

Reports are going around about the possible "liberation" of private savings accounts in Spain and Italy.

I have also heard rumors about some in the USA considering private citizen's 401K's a tasty target for capital to fund the gubbamint

If true what's a poor boy to do?

Spain and Italy are considering screwing over depositers in order to cover bad bank debts. The U.S. solved the same problem in 2008-2009 by screwing over taxpayers.

 

[fairsheet]

Just off the top of my pointy head...The U.S. has the highest tax compliance rate, of any of the world's larger, mature economies. Spain's compliance rate is considerably less and Italy's is less than Spain's. Spain and Italy could raise a fortune if they simply "raided" bank accounts enough to raise the compliance rate to that of the U.S.

 

[lupehernandezdepedajack]

Spain and Italy are considering screwing over depositers in order to cover bad bank debts. The U.S. solved the same problem in 2008-2009 by screwing over taxpayers.

I read that most of the money loaned through tarp has been paid back with interest. I fail to see who got screwed in that kind of an arrangement. Bloomberg reports TARP has earned 25 billion or more in interest from the banks.

Bailing out GM and the UAW screwed the taxpayers pretty good though.