FYI, the depositors are “Taxpayers” too. Why are you siding with taxpayers on the supply (filers) side, yet not siding with asset holders who are now “defacto” taxpayers preyed upon BY THE STATE?
Why not have the politicians do the perp walk, plus, cut down on all the state spending to unions, corporate welfare seekers, rent seekers, etc. to solve this problem?
Are we really arguing about this????????
How does that solve the immediate bank problem? The banks were imploding, do you not get that? Arresting all the past irresponsible politicians that Cypriots had voted for over the years is a great idea, but it isn't going to solve the immediate issue. Do you even know that this current government was just elected in February and is from the conservative party? What good would arresting him do?
Apparently you have not read my past comments that blast the irresponsibility of the Cypriot voters for electing corrupt governments again and again that overspent, ran up huge debt, built an unaffordable public sector, allowed the banks to become shot through with corruption, etc. I am one of the few people that directly blame the voters instead of conjuring up nefarious conspiracy theories involving neo-cons, the Bilderberg Group, etc, to explain how Europeans arrived at this sad point in their history. Everything that is happening here is ultimately the result of voters that put spendthrift politicians in power who tried to maintain an unaffordable social welfare state (we're not so far behind Cyprus ourselves). Pointing fingers now won't fix the banks though. This wasn't a wonderful solution, but it was better than past bailouts - which has been my point all along.
When banks fail, the shareholders, bondholders and uninsured depositors of that bank are SUPPOSED to be the ones to take the biggest hit. What are you not getting about that? If you invest in a company and it goes belly-up, you lose your shirt - not other people who weren't invested in it. We shouldn't be bailing out bank bond/shareholders. And uninsured depositors should count themselves lucky they are only taking a haircut instead of losing everything.