Bailing out bankers while imposing austerity damaged faith in politicians

Evidence

Not only was it a brazen double standard that did untold damage to a generation’s faith in the political class, it did something lethal to the economy. — Yanis Varoufakis, Technofeudalism, 392

Categorization

• corroborated: 2 independent passages support this claim — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 392
• XREF: connects to: European banks are too big for any single government to bail out — Mark Blyth, Austerity: The History of a Dangerous…, 37; European banks are collectively too big for any sovereign to bail, forcing austerity instead — Mark Blyth, Austerity: The History of a Dangerous…, 207; Governments mislabel banking rescues as sovereign overspending because honesty would be politically fatal — Mark Blyth, Austerity: The History of a Dangerous…, 242 (+5 more)

Broader Connections

• Austerity’s shared sacrifice redirects public rage away from banks. #expands (0.82) — Wendy Brown, Undoing the Demos, 429