[penguindev]

I would like to offer a small historical perspective on the power of banks:

Legal Tender Act, 1862 [1]:

"Thaddeus Stevens, the Chairman of the House of Representatives Committee of Ways and Means, ... denounced the exceptions, calling the new bill "mischievous" because it made United States Notes an intentionally depreciated currency for the masses, while the banks who loaned to the government got "sound money" in gold."

Banks always get the first class life boats, and set their own rules (think about it, they buy influence, it's not that hard when you're a bank). I think Europe just missed some kickbacks the old fashioned way.

1. http://en.wikipedia.org/wiki/United_States_Note