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CREDIT SUISSE Joe Blogs: BANK RUNS - Credit Suisse Needs $54 Billion BAILOUT to Avoid Collapse as Cash Crisis Hit Europe Original article: https://www.youtube.com/watch?v=tAJRqpDqjLU Peter Burgess COMMENTARY I started to talk about 'financialization' of the economy as a problem a long time ago ... essentially as part of my critique of US economic policy under Ronald Reagan in the 1980s. I was bothered by the basic policy options that Ronald Reagan was impleneting during his administration and their essential dysfunction. It therefore came as no surprise when the US economy suffered from the 'Savings and Loan Crisis' arising in large part because of the right wing enthusiasm for deregulation in the financial sector. Since the 1980s those already owning wealth have done very well financially while those with little or no financial wealth ... the vast majority of people in the world including the USA ... have been disadvantaged and have progressed financially very little. Worse ... there has been an amazing amount of disinformation about how the economy works ... and especially the US economy. There has been a loud voice coming from the right wing of political pun ditry that economic freedom is the answer and government should have little or no role in helping to make the world a better place. I understand that this is an attractive idea in theory, but the reality is that it is absolute 'bunk'! This description of the Swiss bank 'Credit Suisse' is a very interesting read / watch. I visited Zurich as a student in the early 1960s to learn something about Swiss Banking. My interest had been sparked by all the news stories about the 'gnomes of Zurich' ... the secret bankers ... who were making life difficult in the UK as the British economy struggled post WWII. While the British Empire was in decline years before WWII, the British Empire has a big role in the defeat of Germany and the other Axis powers during the war which essentially bankrupted the Empire. In contrast, the wealth of the Unites Sttates Peter Burgess | ||
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BANK RUNS - Credit Suisse Needs $54 Billion BAILOUT to Avoid Collapse as Cash Crisis Hit Europe
Joe Blogs 265K subscribers ... 26,060 views ... 3.5K likes Mar 16, 2023 #creditsuisse #SILICONVALLEYBANK #SILVERGATE
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