George Soros's Socialized Merry-Go-Round of a Solution to the Euro Crisis

Oligarch extraordinaire George Soros recently came out in the Financial Times with a dandy solution to solve the European debt crisis.  The fix comes down to a gross marriage between Euro region governments and the capital-desperate financial sector.  Not to say that they aren't already in bed together, but Soros's solution would be the shotgun wedding the world's financial system is waiting on.  Let's go through how Soros determines Euro banks should be shored up on capital and saved (emphasis added in all quotations): Let me stake out more precisely the narrow path that would allow Europe to pass through this minefield. The banking system needs to be guaranteed first and recapitalized later. National governments cannot afford to recapitalize the banks now. It would leave them with insufficient funds to deal with the sovereign debt problem. It will cost the governments much less to recapitalize the banks after the crisis has abated, and both government bonds and bank...(Read Full Article)

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