Jeroen Dijsselbloem has been a major player in European financial circles. A Dutch politician, Dijsselbloem became President of the Eurogroup, comprised of the finance ministers of the Eurozone, in January 2013 and served in that capacity until just recently.He offered a frank admission just last month about the naked, taxpayer-financed bailout of major banks.
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Dijsselbloem Admits “We Used Taxpayers’ Money To Bailout The Banks”
ZeroHedge, Nov 10, 2017: Excerpts:
“We had a banking crisis, a fiscal crisis and we spent lot of the tax-payers’ money – in the wrong way, in my opinion – to save the banks” outgoing Eurogroup head Jeroen Dijsselbloem said adding “so that the people criticizing us and saying that everything was being done for the benefit of the banks were to some extent right.”
“This is valid for the banks of all our countries. Everywhere in Europe banks were saved at taxpayers’ cost,” he underlined.
“This was the reason for banking union and the introduction of higher standards, better supervision and a reform and rescue framework when banks have losses,” he said stressing “precisely so that we don’t find ourselves in that situation again.”
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Again…: “This is valid for the banks of all our countries. Everywhere in Europe banks were saved at taxpayers’ cost.”
Exactly the same in the U.S.
Fine. The Fed did what it had to do.
Now it is time to level the playing field by granting U.S. citizens the same direct access to liquidity that was provided to Wall Street’s financial sector.
If taxpayer money can be used to bailout the very institutions which precipitated the financial crisis, then taxpayer money can be used to restore the financial health of the taxpayers.
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