Germany and Iceland are next?

[Foxtrot]

Seems that EU will be able to help out Germany

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3141428/Germany-takes-hot-seat-as-Europe-falls-into-the-abyss.html

But Iceland is screwed in 10 different ways to Sunday

http://www.iht.com/articles/2008/04/17/business/iceland.php

[Skybird]

I was not sure what to think of the US bail out, but since france had brought up the demand that the european taxpayers should reward the criminal energy of top bankers witht heirn own hard-worked-for money, I found my position. I do not wish that to happen, and I strictly oppose both the american bail out at cost of the US tax payers, and i totally oppose a similiar plan form europe at the cost of european tax payers. Whcih would mean that germany and germna tax pqayers would have to paw the most for it.

German finance minster is violently angry about the banker'S complete lack of trustworthiness and morals, and especially the Hypo real Estate. Why? simple. Hypo real estate was brought into trouble by lousy business being done by it's Irish daughter. It called for help and got a deal by private banks and the state over 38 billion. Hypo said that would solve issues, and they talked about transparency and rebuilding trust, and trustworthiness. Unfortunetyl while they said all that nice stuff, they were blatantly lying about their problem's real size. After they got the deal, other bank's controlers found that they would not need guarantees over 38 billion and then are done, but that the problem is much bigger: they would need 50 billion until just this year, and another 50-70 billion next year alone.

transparency? Trust? Trustworthiness?

The financial senior expert of the the SPD Dressler is even clearer in words, and called such bankers as crminals and called it criminal energy if for capitalistic selfishness and egoism whole national economies are pushed into the abyss and whole world gets threatened by doom, just for somebody's financial interests. And I totally agree with him. these business pratcices are criminal. this business ideals are criminal, these practitioners act criminally, and it is a ciminal lack of responsibility and ethics to act like the banking business is doing since - since when? since almost always?

If it means that many or most banks die a miserable death, and the global economy goes to it's knees, okay with me, let them. This business is the first in demands for being untouchable when it privatises its many profits that it makes by producing nothing, and not raising our cultural value, and not increasing our knowledge. But when they have losses, they are also the first to demand the state and taxpayers - in short: other people's money - to pay them their losses, and getting rewarded for their miserable management that way! for me, that is totally unacceptable, even more so since germany since years has warned of these critical developements, and asked washington and london for assistance in raising new codes and standards, to safeguard against this desaster - and the americans laughed them in the face, and the British turned their backs on the germans. It were just the stupid germans, you know, these stupid Germans that do not know how to do real banking, and alsways having Angst, and always wanting total regulation and being in control. strangely, not a few experts would argue that the "overr-regulated" german banking system is the most crisis-proof in the world, while the "most profitable" one - America - was the first to collapse, and collapses with louder noise than any other. . But even the german system gets shaken now. And that means something.

If this kind of bankers and business ways now kicks the bucket - let it, don't disturb it. It makes me sick that still there are voices saying it should be saved - and please, "no more monitoring and regulation!"

I hope the banks really get it, and get so tough that a good ammount of them dies. If people do not suffer sufficient pain from this crisis, they will not learn - and will not change things. :down: The system itself is what stinks, not just this or that single bank. the system encourages and even provokes the messy behavior that led to all this.

I also want chief bankers ijn chains for a lifetime, and hacking stones in the mine. Just to teach them about what the term "reality" means.

[Hitman]

since france had brought up the demand that the european taxpayers should reward the criminal energy of top bankers witht heirn own hard-worked-for money, I found my position. I do not wish that to happen, and I strictly oppose both the american bail out at cost of the US tax payers, and i totally oppose a similiar plan form europe at the cost of european tax payers. Whcih would mean that germany and germna tax pqayers would have to paw the most for it.


Ahmen to that :yep:

The only people who should get the state's help are the thousands of low ranke bank employees who, not having any guilt in all this would get jobless if all banks explode. But all those executives and directors who have been allwoing this all to happen, they should be hit really hard by law and by the consequences of what they have done.

In 1929 a usual picture in Manhattan was bankers jumping from the window of his office in the skycrapers. And the rest world in the end survived.

I say let them have it again :stare:

[Skybird]

In 1929 a usual picture in Manhattan was bankers jumping from the window of his office in the skycrapers.

Good idea, I'm all for it. maybe we can push them a little. Revenge also helps to cure one's suffering temper. :up:

[UnderseaLcpl]

In 1929 a usual picture in Manhattan was bankers jumping from the window of his office in the skycrapers.

Good idea, I'm all for it. maybe we can push them a little. Revenge also helps to cure one's suffering temper. :up:

I'd only like that idea if we could throw some legislators and Federal Reserve members with them:sunny:

[Skybird]

Oh my god -

http://www.spiegel.de/international/business/0,1518,582466,00.html

Germany preparing guarantees worth 1 trillion? Das darf doch wohl nicht wahr sein. That is even more than the Americans' 700 billion.


Banking expert Hans-Peter Burghof told Bayerischer Rundfunk radio that the government's move amounted to "the biggest guarantee in world history."

No one had ever guranteed such a high sum of money in two simple sentences, the professor of banking and financial services at Germany's Hohenheim University said.

The idea behind giving the guarantee, he said, was to ensure that it would never be needed. Guaranteeing deposits would preclude a run on the banks, he said.

But when it is needed nevertheless...? Then it is a neck-breaker.

Have I just written that the german banking system is maybe the most stable in the world ? Well, I pray for it, else those who are currently still kids in this country will pay a dramatic price.

So far not a single german manager has been arrested. Strange. If I betray and do not pay my taxes, however small, for one or two months, I get sacked.

[Tchocky]

Unless legislators start getting retroactive, we're not going to see any arrests.

Who do we arrest, anyway? Lending money to someone who can't pay it back is a two-way street. No amount of suicidal bankers is going to change the gullibility of the consumer.

[Digital_Trucker]

In 1929 a usual picture in Manhattan was bankers jumping from the window of his office in the skycrapers. And the rest world in the end survived.

I say let them have it again :stare:
They should take the lawyers and politicians with them, though.:up:

[Hitman]

What is starting to be really worrying is that all states are preparing bailout planes. Looks like the situation is then much worser than we common citizens can perceive at first sight :hmm: If the banks in EU were really solid, nobody would be talking that much about guaranteeing the fund, they would be saying: No problem, no need for bailout plans here, that's a problem from the US system and not going to happen here.

No amount of suicidal bankers is going to change the gullibility of the consumer.

Who ever talked about that? It's simply a bit of justice and fairness what we are after :stare:

[Skybird]

Unless legislators start getting retroactive, we're not going to see any arrests.

Who do we arrest, anyway? Lending money to someone who can't pay it back is a two-way street. No amount of suicidal bankers is going to change the gullibility of the consumer.
Spreading the risk for foul credits away from one' bank/employer, and over all the world - that is the crime. If that would not have been done, bansk would suffer directly from the foul credit procedures - and then they would have started to adress that loooooong time ago.

[Happy Times]

I call this socialism of the rich like some economics Nobel winner said, i hate socialism.

[Skybird]

When I hear such news, then I have an appetite for murder on my mind.

http://www.nytimes.com/2008/10/07/business/economy/07lehman.html?_r=1&hp&oref=slogin

Damn crimical scum.


Even as the investment bank Lehman Brothers (http://topics.nytimes.com/top/news/business/companies/lehman_brothers_holdings_inc/index.html?inline=nyt-org) pleaded for a federal bailout to save it from bankruptcy protection, it approved millions of dollars in bonuses for departing executives, a Congressional committee was told Monday.

Line them up in a row and shoot them - they will never learn, their greed will always be murderous, and they will never know what is right and what is wrong. They are like cancer in the bones - such bones won't hold anything together, but kill it.

[Hitman]

Well that last one is 100% in the criminal code, I'm positive on that. What exactly are the authorities in the US waiting to start a criminal procedure against the Bank administrators?

BTW crucifying now some of those SOBs would be an excellent example for the rest in the incoming worsening of the crisis. :yep:

[Tchocky]

Spreading the risk for foul credits away from one' bank/employer, and over all the world - that is the crime. THat is no crime under any law. It is certainly irresponsible, given the hindsight of a housing bubble, but it is not a crime.
As I've said before, unless we are to retroactively decide that making money is a crime, then nobody will go to jail.

[Hylander_1314]

In 1929 a usual picture in Manhattan was bankers jumping from the window of his office in the skycrapers. And the rest world in the end survived.

I say let them have it again :stare:
They should take the lawyers and politicians with them, though.:up:

The lawyers should be the first to go. Then the self-diluted politicians. But since most are or were lawyers anymore, it would be a twofold benefit.

[Skybird]

Spreading the risk for foul credits away from one' bank/employer, and over all the world - that is the crime. THat is no crime under any law. It is certainly irresponsible, given the hindsight of a housing bubble, but it is not a crime.
As I've said before, unless we are to retroactively decide that making money is a crime, then nobody will go to jail.
Then make it a law. A too far-leading lack of regulation obviously does not work, it has made possible and even encouraged the mess we have now.

Making your own profit at the cost of others, from a certain point on is a crime in my book. This kind of greed and brutal selfishness now millions of workers and families have to pay for, and threatens to declare whole states bancrupt (Iceland being the first), and tghrow whole national economies into the abyss. A system that allows that, is seriously flawed. Egoism of the individual needs limits, and if the invidual does not see that, then it must be forced to comply with that, no matter if it understands that or not. From some point on, it simply is enough.

As long as you do not live alone on this planet, there sijmply is no such thing like unlimited freedom. Unlimited egoism leads to unlimited greed and brutality, and a mximum of disinterest for others. I do not accept that, and I will never accept that. I wonder why we were born as human being with intelligence and the ability to be self-reflexive if we propagate a society in which everybody behaves like a T-Rex, all mankind is divided just into millionaires and waste-collectors and whoever cannot compete witz this murderous madness anymore is mercylessly left behind to die. Even in quite some mammal species, from dolphoins to big apes, you can see more caretaking and social empathy for for example a dying member of a group, or a wounded, than what is to be seen in this social-darwinistic ideology of total disregulation.

If anything, we humans have the potential and ability not to be left at the mercy of self-emerging dynamics of such systems anymore, but to influence them so that we can live a better life, and not just the millionaires living by the dish-washer's work. To reject this ability and go back to total dyregulation as if we were a band of ancient apes living in a desert 50000 yars before the homo sapiens showed up, is not a progress, but a step back into our dark history.

[August]

Not to interrupt Skybirds gleeful contemplation of the death and suffering of fellow human beings, but the urban legend of stock brokers jumping out of windows is just not true.

It comes from a Will Rogers quote: "When Wall Street took that tail spin, you had to stand in line to get a window to jump out of, and speculators were selling space for bodies in the East River."

That's called sarcastic wit, not historical fact.

[Zayphod]

When I hear such news, then I have an appetite for murder on my mind.

http://www.nytimes.com/2008/10/07/business/economy/07lehman.html?_r=1&hp&oref=slogin

Damn crimical scum.


Even as the investment bank Lehman Brothers (http://topics.nytimes.com/top/news/business/companies/lehman_brothers_holdings_inc/index.html?inline=nyt-org) pleaded for a federal bailout to save it from bankruptcy protection, it approved millions of dollars in bonuses for departing executives, a Congressional committee was told Monday.

Line them up in a row and shoot them - they will never learn, their greed will always be murderous, and they will never know what is right and what is wrong. They are like cancer in the bones - such bones won't hold anything together, but kill it.

That sort of thing will only happen once the world declares me "Overlord of the Planet".
I'll make sure they're the first up against the wall.

You, of course, shall be spared. :arrgh!:

I approved of this message. :sunny:

[Flamingboat]

What exactly are the authorities in the US waiting to start a criminal procedure against the Bank administrators?



They don't investigate themselves. Just like no one investigated the huge airline stock selloffs that happened right before 9-11.

[Fish]

Oops, escaped from the Icesave bank. I was seriously thinking of tranfering my savings to that bank. They had a high interest.
But now they are broke, and since Iceland is not in the EU, no guaranty from our state bank.
A lot of people here and in the UK are panicking now.

[Dan D]

Oops, escaped from the Icesave bank. I was seriously thinking of tranfering my savings to that bank. They had a high interest.
But now they are broke, and since Iceland is not in the EU, no guaranty from our state bank.
A lot of people here and in the UK are panicking now.

Good, Fish!

Not so good:
My brother-in-law has paid 20.000 EUR into an instant access saving account in...ICELAND. He now has to see what "instant access" is worth and I bet, he is not the only one.