"If the little people knew that their tax dollars were bailing out corporate banks and hedge funds, they might get scared and do something rash!"
ARISTOCRATS GONNA ARISTOCRAT.
Bloomberg reports:
The Bank of England will hide the identities of any pension funds, insurers or hedge funds bailed out under a new financial stability tool to prevent a wider crisis engulfing the economy, Deputy Governor Dave Ramsden said.
The BOE has accepted submissions by so-called 'shadow banks' that 'revealing too much information could create stigma' about using the bail-out tool, which would undermine any rescue effort and risk creating more financial instability, he said in a speech on Monday.
Tens of millions of hardworking Brits are being taxed up the wazoo so that their government can import millions of Muslim "refugees," arrest them for praying quietly in their heads, and give their money to wealthy elites.
The decision to create the [system] reflects changes to the structure of financial markets since the 2008 financial crisis ...
The [system] will only be used at times of extreme stress, and the tool may potentially be extended to hedge funds, Ramsden also indicated.
‘'We are looking at the insurance companies, the life assurers, the LDI funds. That's where we started. But it's certainly not where we can stop...'
Let me translate this for you.
Rich elites got hurt badly by the 2008 crash (that was caused by the shenanigans of the rich elites).
To make matters worse, they received years of intense public scrutiny through media coverage of movements like "Occupy Wall Street."
To recover their good PR, they went woke.
But it turns out that wokeness doesn't ward off impending economic fiascos. To try to buy them more time to fix the inevitable future crash caused by their own stupidity and greed, they are now hiding what they are doing so regular people can't see how they are manipulating the markets.
After all, if Brits found out that the government that jails them for mean tweets was also spending their tax money to bail out their rich friends, imagine the societal instability that would result.
And the aristocrats can't have that!
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