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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.
this is why there should be anarchy, there is too much govt.
What's next? BofA and JPM to the rescue?
No what is next is the nationalization of BOFA and JPM.
Next up Italy?
11:44 06Oct11 RTRS-SIGNS APPEARING OF CREDIT CRUNCH IN ITALY DUE TO HIGHER BANK FUNDING COSTS - ITALY BUSINESS GROUP OFFICIAL
"Who will nationalize a governmentless Belgium?"
Well, Germany have tried to nationalise Belgium twice in the last 100 years.............................
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.
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.
That's the question of the day.
If a bank falls in Belgium, does it make a noise?
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.
but please, buy my book
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.
and stocks continue to climb - now ignoring all bad news that ZH can provide
- weak shorts are being carried out.
Sounds like a circular jerk to me...
Oct. 6 (Bloomberg) -- Spain will change the rules governingthe industry-funded deposit-guarantee funds to unify them intoone facility that offers a guarantee to the state’s FROB bank-bailout fund against any losses it suffers in the restructuringof the industry. The sector will bear the whole cost of the restructuring,Finance Minister Elena Salgado told reporters today, shieldingthe taxpayer and public finances from losses.
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.
Unless it's a totally unfounded ridiculous Liesman rumour the market will not react....
Dexia's account holders will withdraw their funds via ATMs and Internet at midnight... Dexia's Midnight Runners ;)
You've been itching to use that.
C'mon, admit it. :)
Yeh it's true - I've been itching to use that line...
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?
Correction: E79bn, with withdrawals totaling E1bn in Sept.
These Qatari dudes sure have some serious death wish...
Oct. 6 (Bloomberg) -- Qatari Investment Authority, thecountry’s sovereign-wealth fund, may be part of a group ofinternational investors looking to buy the Luxembourg bankingunit of Dexia SA, Les Echos reported, without saying where itgot the information.
"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?
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?
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.
Well done! Thank you very much for professional templates and community edition sesli chat sesli sohbet
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