How would you know that? There's no way you could know that, for a fact. As for what you're implying - should every depositor in a tax haven country take a 50% haircut because, according to you (who doesn't know shit), all tax haven depositors are "criminals"?? Lol There's something like an estimated ~46 Trillion on bank in tax havens around the world.
It's called letting free markets work. That means allowing every insolvent (and their depositors/investors) fail. Picking winners and losers is not what free markets are about. That's how gangsters operate. Which is exactly what's going on Europe and the US. Eliminating competition. Not surprised you got fooled by it.
a) Cyprus is not a tax haven b) Cyprus has among the laxest laws in terms of anti-money laundering guidelines and the weakest enforcement of any developed economy, it ranks very high on locations of criminal financial activity c) A week ago close to 5 billion euros left the country, reportedly (witness account of bankers and staff) belonging to accounts held with government affiliates, families and "friends" d) that same week pretty much everyone flying into Cyprus came from Russia, guess why. If you still think Cyprus is a reputable financial services center then you must be dumb. Enough said. The ONLY reason the EU shows interest in not letting this rat hole down is because of its reputation it must maintain with the rest of the central European "citizens". Otherwise this island would have already drowned years ago in its financial bribery, money laundering and criminal activity slump.
lol, you are contradicting yourself. If every depositor should fail along with his bank then a haircut of 40% sounds very moderate in comparison. Yes gangsters, all bankers are gangsters. And to excite you even more, I have been one of those evil prop traders in investment banks and hedge funds for over a decade before I started running my own hft firm. Now I rip off small people like you on spreads and slippage. Gosh, I love conspiracy theorists who only believe in conspiracy A but not B. Makes me chuckle.
The corrupt assholes that set fiscal policy. The bankers are just doing what they do.... profit seeking. The political class is the issue. But ultimately they just answer to the voters, and the voters want free stuff which they don't want to pay for via taxes.
a much more honest analysis, Cyprus in effect is in exactly the same situation as Greece. Nobody in this country understands the concept of "pay for what you can afford" but everything about "entitlements". That goes all the way down from the political ruling class to the working class. Everyone attempts to cheat the last penny out of the system for self-serving profit maximization. That would generally be acceptable as a human trait but in this case people have no issues whatsoever to overstep boundaries and to evade taxes which in pretty much ANY society is declared an unlawful and federal offense. Stealing is the mantra of the day and that is why they are going down and I stand by, watch, and laud and applaud the more pain there is because I am sick of seeing northern Europeans getting raped and blamed for all this mess. Let them get into bed with the Russians as long as Germany and Co can stay far away.
Talking out of your ass seems to be one of your strong suits. Since you know everything, where's the ES gunna close tomorrow?
thanks for providing any value added, other than bitching, moaning and wining about evil bankers. On ignore.
Don't flatter yourself. Only the ones on the top are gangsters. The insignificant maggots on the bottom that make a living front running orders and polluting the book to get a nanosecond edge - like you - are just bottom feeders. Sure, your ilk bought off regulators to make stealing legal, but that's just how cretins roll. Couldn't figure out how to make it as a real trader, so you had to invent ways to steal from those who could. You're not a shot caller. But like the guys on the top, you're a parasite. Your days are numbered, too. Don't worry
I'm not sure what a "real trader" is, but let's not act like a "real trader" is any different than a banker or a real estate developer, or a business owner/investor. All take positions and try to profit from them. You're the pot calling the kettle black.