New Zealand planning Cyprus-style “solution” for bank failure. “Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.” Yup, gives a depositor a lot of confidence in his bank if he knows that it’ll stay in business no matter what, even if it has to take his money to do it. Let’s see… what’s the definition of “self-fulfilling prophecy” again?
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
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