Bankers Can’t Lose

By Sasha Agapiev

CARPE VENTURES

I think that most people would agree that for every crime committed, there should be a punishment given in order to dissuade the offender and others within the community from doing the same in the future.

This is the basic principle behind all modern law. Without punishments, humans would continue performing actions that they shouldn’t.

Additionally, most people think that this is exactly what is happening in our perfect world right now. The masses believe that everyone is subject to the consequences that come as the result of perpetrating a crime. And this is how it should be.

However,

“All animals are equal, but some animals are more equal than others.”

This is the case with bankers and their associates. They are the secretive masterminds controlling the financial state of the world, while the rest of us suffer because of their actions.

I am going to use a dated example, but most American citizens probably either forgot or have no clue about when the American government, the same people who claim that they are in charge of a completely capitalist country, spent close to a trillion dollars bailing out banks who sent the entire world into an economic crisis. In actual capitalism, companies fend for themselves with little to no government intervention. If a business starts losing money because of its actions and poor decision making, then it deserves to go bankrupt. Not only did the banks get bailed-out, but those who illegally lied in order to give out subprime loans did not get punished.

So, to translate this into understandable English, the bankers created a global crisis, committed a lot of crimes while doing so, made their banks go bankrupt, then got bailed out by the government and did not go to jail.

This is the reality of our judicial system.

While citizens are getting killed by police officers for illegally selling cigarettes, bankers are creating turmoil around the world and destroying the lives of millions for their benefit and are getting no form of punishment.

What happens when people don’t get punished for committing crimes? Well, they continue doing what they are doing. Right now, bankers can’t lose. They have the power to do whatever benefits them. If they can make billions by demolishing the world economy and don’t have to worry about the consequences, then why would they decide not to do so?

Yes, I know, this was seven years ago. So why exactly am I bringing this up now?

Because it is happening again.

As I have previously discussed, the trends in today’s stock market are closely resembling those of the days before the crash of 2008. House prices are rising once again while untrustworthy borrowers are taking out unjustifiably large loans because the Federal Reserve has kept interest rates near zero for the past years.

And under the exact same circumstances, one could only expect the exact same result.

 

Photo credit: Unsplash

About Grace Masback

Grace Masback, 17, aspires to give voice to the voiceless and holds the modest ambition of becoming the voice of Gen Z. Frustrated by the dearth of impactful platforms for teen journalists, she founded WANT, a news, sports, and entertainment website that aggregates the best in high school journalism from school newspapers and teen bloggers around the world (www.wantnewsforteens.com).

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