When I first heard about what is going on in Cyprus -- another bank bailout -- I was alarmed. As I understand it, rather than simply handing over monies from the public treasury, the funds were "raised" by raiding people's bank accounts. A tax was imposed on deposits and so Cypriots -- rich and poor -- lost a bit of money as if by magic!
Well, Gaius Publius thinks this is a new universal strategy cooked up by Wall Street. He doesn't think what happened in Cyprus will turn out to be an isolated case. I hadn't really thought about until just now, but he's probably correct. The wealthy elite are bound and determined to get their hands on as much of our meager resources as possible...come hell or high water.