The Cyprus Crisis is a Microcosm of what can happen if every worst-case scenario happens at the same time. It’s difficult to feel bad for the billionaires not being bailed out this time but for the poor people wanting to buy a bag of groceries the issue becomes easy to empathize with. The domino effect this can have on the economy is scary, but as always the banks will be bailed out, not to save the Eurozone or the small fish, but because of those billionaires that have a strangle-hold on the economy. It’s easy to feel powerless and spin into crisis mode and start flipping over ATM’s, but the same reason the banks got into the mess is the same reason they’ll get out. The fact that these banks are still able to bet on bad debt and a bailout after the 2008 US crisis shows that the root of the problem hasn’t gotten fixed which is why this problem will continue to happen all over the world. There is no personal accountability or punishment for screwing up and playing roulette with other peoples’ money. Let’s hope it lands on black this time or at least double zeros.
Share this post:
This article was written by The Wall Street Analyzer
The Wall Street Analyzer's staff of writers, analysts, publishers, producers, market researchers, and PR professionals aim to provide investors with the tools they need to make informed decisions on buying stock. Our staff is a mix of financial professionals and media savvy individuals whose experiences bring the best talent from both ends of the spectrum. On one hand our financial experience gives us the ability to identify promising, off the grid companies before they are uncovered by the rest of the market, and on the other hand our media experience allows us to produce interviews which appeal to a large audience because we provide a format in which more investors can understand a featured companies' upside. Our philosophy is to turn stock tickers into stories, ideas into headlines, and technical and financial data into easy to understand tidbits, easier to digest and therefore consumed by a larger audience. These interviews provide a jumping off point for investors to do further research into a prospective company. Our editorials seek to provide an out-of-the-box perspective found in few other financial sites.