"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Government Commits to Bail out Big Bank - Surprised?
Submitted by rothbardian on Tue, 2016-10-04 03:00
Government official: "Of course we don't need to bail out XYZ bank."
CIO of Asset Management Co.: "The government is full of shit. Of course they will bail out XYZ bank. It's too important for the (insert State here) economy. The government will have to step in, should this become a self-fulfilling prophesy with the share price going down too low."
The government central bank will ultimately bail out this private bank. And the central planning continues on the Road to Serfdom.
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