City Journal Winter 2016

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Winter 2016
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Nicole Gelinas
Occupy Europe « Back to Story

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What caused all this mess was reckless, unregulated lending by private sector banks into countries like Greece and Ireland.

The citizens and taxpayers are now picking up the tab for private sector losses.

So much for the free market.

Privatise gains and socialise losses.

Thank you for a coherent analysis of a situation seldom presented coherently by anyone involved.