Quantative queasing

When money has no cost, the consequences of using it irresponsibly have no cost either. The bankers’ bets and actions crushed the global economy before, and they will again.

Nomi Prins, All the Presidents’ Bankers, p422.

This book is a very detailed and well-researched book about how U.S. banks and politics have been intimately connected for the last 100+ years. This is a global problem, too, of course. Just see how many in EU top come and go to banks, not least U.S. banks. The financial sector can make huge profits while producing extraordinary little, and when they screw up they get Momma Government to cover for them with taxpayer money.

As for the QE, I love this one

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