Bailouts and The Crusades

Interesting analogy by a freshman Congressman comparing the “bailout bonanza” to the Crusades:

The entire mess reminds me of the tale of Emperor Alexius I of Byzantine Empire, who called forth the Christian kings of Western Europe to help him hold off the Turks at his gates. “Help us,” he said. “Prevent the heathens from taking the Holy Land.” The Christian kings of the West responded in force. At first the Crusades served Alexius’ goals. “Bonuses” went out: the taking of Antioch and of Jerusalem. But with time, many crusaders saw a richer and easier target in Constantinople itself, and soon, the very forces that Alexius called upon for aid set out to loot his own capital, thus hastening the demise of the Byzantine Empire.


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