De Tijd Reports Dexia To Be Nationalized

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Thu, 10/06/2011 - 06:46 | 1744599 Fips_OnTheSpot
Fips_OnTheSpot's picture

And E 1bn already "lost" by bankrun - http://www.lesoir.be/actualite/economie/2011-10-06/1-milliard-d-euros-re...

Even municipals (hah!) are getting their cash out of there.

Thu, 10/06/2011 - 10:09 | 1745310 covert
covert's picture

this is why there should be anarchy, there is too much govt.

http://expose2.wordpress.com

 

Thu, 10/06/2011 - 06:48 | 1744604 wombats
wombats's picture

What's next?  BofA and JPM to the rescue?

Thu, 10/06/2011 - 07:02 | 1744622 FubarNation
FubarNation's picture

No what is next is the nationalization of BOFA and JPM.

Thu, 10/06/2011 - 06:49 | 1744606 Dick Darlington
Dick Darlington's picture

Next up Italy?

11:44 06Oct11 RTRS-SIGNS APPEARING OF CREDIT CRUNCH IN ITALY DUE TO HIGHER BANK  FUNDING COSTS - ITALY BUSINESS GROUP OFFICIAL

Thu, 10/06/2011 - 06:53 | 1744607 gojam
gojam's picture

"Who will nationalize a governmentless Belgium?"

Well, Germany have tried to nationalise Belgium twice in the last 100 years.............................

Thu, 10/06/2011 - 06:56 | 1744613 wombats
wombats's picture

It will be a wonderful opportunity for the FED and ECB to print.  Saving whole countries will surely justify an excuse to print billioins or trillions more fiat.  What could be better for western civilization than a good printing party.

Thu, 10/06/2011 - 08:41 | 1744861 YHC-FTSE
YHC-FTSE's picture

Shhh! Stop giving those criminals ideas! "Saving" Belgium = hyperinflation. Hyperinflation = eating our shoes for lunch (If you don't have PMs). 

What's the superlative of hyper? Whatever it is, that's where we're heading inflation-wise, if they keep this up.

Thu, 10/06/2011 - 07:32 | 1744685 bania
bania's picture

That's the question of the day.

Thu, 10/06/2011 - 06:54 | 1744611 Sophist Economicus
Sophist Economicus's picture

If a bank falls in Belgium, does it make a noise?

Thu, 10/06/2011 - 06:58 | 1744614 El Gordo
El Gordo's picture

I am here today to announce that I am officially not a candidate for President of the United States.  If selected I will not run, and if elected, I will not serve.  Thank you and have a nice day.

Thu, 10/06/2011 - 07:37 | 1744699 daily bread
daily bread's picture

but please, buy my book

Thu, 10/06/2011 - 07:01 | 1744617 Coldfire
Coldfire's picture

Good thing prudential regulators are in place to prevent this kind of thing from happening anywhere else but Belgium, France and a few other backwaters that don't even begin to matter.

Thu, 10/06/2011 - 07:05 | 1744621 campag
campag's picture

and stocks continue to climb - now ignoring all bad news that ZH can provide

 - weak shorts are being carried out.

Thu, 10/06/2011 - 07:04 | 1744627 Dick Darlington
Dick Darlington's picture

Sounds like a circular jerk to me...

Oct. 6 (Bloomberg) -- Spain will change the rules governing
the industry-funded deposit-guarantee funds to unify them into
one facility that offers a guarantee to the state’s FROB bank-
bailout fund against any losses it suffers in the restructuring
of the industry.
     The sector will bear the whole cost of  the restructuring,
Finance Minister Elena Salgado told reporters today, shielding
the taxpayer and public finances from losses.

Thu, 10/06/2011 - 07:09 | 1744636 CRB2525
CRB2525's picture

I prefer to think that the Advantage is that shareholders get stuck with the Bad Bank.  The risk of equity investing coming back to bite them.

Thu, 10/06/2011 - 07:14 | 1744644 goldbu11
goldbu11's picture

Unless it's a totally unfounded ridiculous Liesman rumour the market will not react....

Thu, 10/06/2011 - 07:15 | 1744645 Chaffinch
Chaffinch's picture

Dexia's account holders will withdraw their funds via ATMs and Internet at midnight... Dexia's Midnight Runners ;)

Thu, 10/06/2011 - 07:21 | 1744663 Schmuck Raker
Schmuck Raker's picture

You've been itching to use that.

C'mon, admit it. :)

Thu, 10/06/2011 - 10:49 | 1745578 Chaffinch
Chaffinch's picture

Yeh it's true - I've been itching to use that line...

Thu, 10/06/2011 - 07:20 | 1744662 edmondantes
edmondantes's picture

Dexia still has €80bn of deposits... it just shows you how stupid most of the population are... if they had any sense they would have withdrawn every last euro....

It is not as if Belgium can print the euros to cover the black hole now can it?

Thu, 10/06/2011 - 07:23 | 1744667 Schmuck Raker
Schmuck Raker's picture

Correction: E79bn, with withdrawals totaling E1bn in Sept.

Thu, 10/06/2011 - 08:06 | 1744764 Dick Darlington
Dick Darlington's picture

These Qatari dudes sure have some serious death wish...

Oct. 6 (Bloomberg) -- Qatari Investment Authority, the
country’s sovereign-wealth fund, may be part of a group of
international investors looking to buy the Luxembourg banking
unit of Dexia SA, Les Echos reported, without saying where it
got the information.

Thu, 10/06/2011 - 08:39 | 1744784 Volaille de Bresse
Volaille de Bresse's picture

"These Qatari dudes sure have some serious death wish..."

 

Good one! And Timmy's lil sister from France (Valérie Pécresse is her name) boasted on SEPT. 14 that "French banks do not need any help". 

 

WHEN are we gonna guillotine these clowns? 

Thu, 10/06/2011 - 08:33 | 1744830 oogs66
oogs66's picture

why can't a signle politician, reporter, actually look at facts and figure out on back of a cocktail napkin that the plans make no sense?  that the problems are too big to fix that easily?

Thu, 10/06/2011 - 10:58 | 1745620 Chaffinch
Chaffinch's picture

The politicians haven't got a clue - their main concern is staying in power. They rely on advisers who, tragically, used to work for GS, JPM, etc. Max Keiser describes all these stupid acronyms (EFSF, ECB, IMF etc) all lending each other money as being on some kind of giant pointless möbius strip, but, again tragically, the ever-more-complex so-called 'solutions' they keep coming out with confuse the public and, incredibly, appear to confuse the MSM as well.

Wed, 10/12/2011 - 10:18 | 1765514 karmete
karmete's picture

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