Bank For International Settlements Report: Big Banks Take Risks Expecting Taxpayers To Cover Losses
FRANKFURT, Germany — Governments, banks and households struggling with too much debt are dragging down the world’s economy and more needs to be done to make the banking system safer, a global organization of central banks warned Sunday.
The Bank for International Settlements said in its annual report that the world economy remains out of balance, with advanced economies struggling with debt and emerging economies growing strongly but facing risks of their own version of boom and bust.
The BIS – an intergovernmental organization of central banks based in Basel, Switzerland – said it’s key for governments to make banks take responsibility for their losses and force them to rebuild their finances. Meanwhile, the threat from risky bank behavior is growing again.
“The world is now five years on from the outbreak of the financial crisis, yet the global economy is still unbalanced and seemingly becoming more so as interacting weaknesses continue to amplify each other,” the BIS said in its 82nd annual report.
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@10ofthemany – AMEN – Well said.
Nope!!! and Hell NO……… we do not want to continue to give when we have nothing left to give anyway!!!!!! Greedy bastards we are done with the hand outs to the big CEO so they can live so well off again! OUR BACKS! I for one am DONE no one get anything else from me except the ones you have brought down, we will band together and we will rise from you brutal treatment and you will financially die and the bankers souls already belong to the devil so you are done there also!! So BYE BYE big fat cat pigs. Live it while you can, we are learning new ways to overcome YOU and your thievery and more of the people are waking up globally.