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Nomi Prins – former managing director of Goldman Sachs and head of the international analytics group at Bear Stearns in London – notes that the Egyptian people are rebelling against being pillaged by giant, international banks and their own government as much as anything else.
She also points out that the Greek, British, Tunisian and other protesters are all in the same boat:
The ongoing demonstrations in Egypt are as much, if not more, about the mass deterioration of economic conditions and the harsh result of years of financial deregulation, than the political ideology that some of
Around 2005, Egypt decided to transform its financial system in order to increase its appeal as a magnet for foreign investment, notably banks and real estate speculators. Egypt reduced cumbersome bureaucracy and regulations around foreign property investment through decree (number 583.) International luxury property firms depicted the country as a mecca (of the tax-haven variety) for property speculation, a country offering no capital gains taxes on real estate transactions, no stamp duty, and no inheritance tax.
Originally posted by Neopan100
yet americans sit on their ass (me included... while the same thing is happening to us...what to do???what to do??