Merkel Slams Irish Bankers As "Impossible To Stomach"

Tyler Durden's picture

The 'outing' of the Irish bankers for gaming the central bank and mocking zee Germans has infuriated an election-hungry (and purse-string-holding) Angela Merkel. Appealing to he populist roots, Reuters reports, Merkel exclaimed, "For people who go to work each day and earn an honest living, this kind of thing is very hard to take, it's impossible to stomach."

Germany is concerned it will be asked to rescue more mismanaged banks (even with the template of bank resolution in place) as she adds - perhaps most prophetically, "this is really damaging to democracy, the social market economy and all that we work for."

Of course, this show of disdain seems highly hypocritical since Merkel's main role is to keep Deutsche Bank alive (as we explained in words and pictures here)...

 

as we noted previously - If nothing else, it should make clear, once and for all, just who is truly calling the Mutually Assured Destruction shots in Europe.

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fonzannoon's picture

is it me or are those bars disproportionate?

RSloane's picture

Cross your legs then tilt your head sideways while squinting. If they still look disproportionate just close your eyes entirely and don't look.

I have it on good authority that most central banks view graphs and charts this way.

Pladizow's picture

Merkel: "Oh those silly bankers, wadayagonnado?"

Divided States of America's picture

I am sure her own citizens in Germany find her like wise...BIATCH

kaiserhoff's picture

The really odd thing here is that Deutschebank's derivative risk is known, unlike say, unfunded US gubbermint liabilities.

Germans keep good books, even when we shouldn't.

Element's picture

It's OK, they can just nationalize that ... it fixes everything ...

eatthebanksters's picture

This is so fucked up...stupid people everywhere are blaming capitalism and lack of regulations for our problems.  Well, we have regulations on our books that weren't and aren't being used, and, Europe is primarily socialist.  So what the fuck?!  The real problem is the corrupt fuckers running the show, it does not matter what type of system is in place while they are in charge. Prosecute and jail some of these bastards and maybe the shitshow will change, but as long as the likes of Merkel and Obama (and Holder) are in the pockets of these folks, your never gonna see any fucking change.  FUUUUUCCCCKKKKK!

 

Hope and Change...fuck me...

knukles's picture

I missed it somewhere.. or it wasn't clear which from time to time seems to happen (coincidences, n?) with politician's statements.

What is hard to stomach?  The Germans, Irish, Irish banks, German banks, banks, Europe, European financials, fraud, deceit, propaganda, silliness, stupidity, whatever?
I mean I get the point but still I can't figure out exactly what the fucking problem is aside from "everything" these days.

 

 

imagining somebody having a sore on their head that looks like a divot

WonderDawg's picture

Knuksie! Shot a 79 the other day. My game is finally coming around.

knukles's picture

Yo!
Dawg!  That is marvelous!  That alone tells me you're doing Great.
I'm very glad to hear it.
One of my absolute best ever was an 86 on a toughie course within the last 2 weeks, so we're channeling, my man, channeling.
LOL  Thank God for the program at times, in markets like this, no?
My bond and gold strategy has taken quite a lump of late, but I'm still of the opinion that the cart is being placed before the horse....
Until there's an economic "recovery" which would seem to gain it's own momentum without life support, the QwhateversE's are gonna be maintained.
The Japanese model is where we are, will be many decades of low rates and disappointing growth.  Real disposable incomes are going nowhere... a new normal drag.

Oh well, it is what it is.  And I am happy to be experiencing it.
Be good Dawg!
Blessings
K

gmrpeabody's picture

"That alone tells me you're doing Great."

It may also be telling you that he has one of the best footwedges around...

WonderDawg's picture

Damn right, I've been practicing with my foot wedge for years.

kaiserhoff's picture

Do I get any credit for my hole in one...

on miniature golf?

knukles's picture

Absolutely...
Especially if it bounced off the side, between Bozo's moving feet, up the incline, under the bridge, missed the windmill and didn't get in the water.
Which is like my putting on a regular golf course!

kaiserhoff's picture

Damn, I was hoping there was no video.

I did hit the green in two once, but it was a ricochet off a tree.

WonderDawg's picture

You know, I'm not so sure about QE forever. As much as people like to think the CBs have control of the bond market, reality might just rear its ugly head. You saw what happened with the Nikkei and JGBs, and that story isn't finished yet. Same thing can and most likely will happen here. When equities, bonds, and PMs are all diving together, and no rotation is seen, that reeks of deflation. My gut tells me that many shorting opportunities will come our way, but we're gonna have to be nimble and trade some volatility for a while first.

knukles's picture

I guess I'm seeing the same landscape but figuring different policy reactions.  At least as a first effort/effect.
If indeed deflation is the fear, which I believe to be the tantamount, primary item on the global CB fear list, my assumption is that in order to keep rates low and stocks up, their clear objectives, particularly in view of continued tubercular economic performance, there will be a return to Big QE efforts and Operation Twists in order to achieve those ends...
They (lower rates and rising stock prices) seem to be the CB's indica or desired market outcomes that they feel (probably wrongly) prestage economic growth.
Cart before horse manipulation of markets.
The central core of my thesis is that we, like Japan, are caught in a Liquidity Trap which is a monetary phenomenon created by non-monetary conditions which would be best described as a Credibility Trap.  Which I think Jesse has done a brilliant job of elucidating upon.
Nonetheless, I concur with your observation wholeheartedly....  That deflationary fears will be the greatest driving influence over the CBs and thus markets for some time into the future.

And BTW, when I think it was, in 2006 the Japanese announced a retreat from their then QE, 10 yr JGBs went form 0.5% to almost 2.0% later dropping finally back to about 0.9%.   
A great site for this kind of historical info is:  http://www.gecodia.com/

And here's a snapshot therefrom of the JGB activity I mentioned:

http://www.gecodia.com/Japan-Government-10Y-Yields_a1305.html

Enjoy

Good grief man, a 79?
I can only imagine such in my fondest dreams!
K

Freddie's picture

Oh dear - the idle rich.  It only counts if you played from the tips.  ;-)

Colonel Klink's picture

Close, you need to bend over and look between your legs.  You'll get the picture, or was that pitcher?

Colonel Klink's picture

My apologies to my gay down voter for making a joke at your expense.

Midasking's picture

All these bankers are impossible to stomach. One they aren't very good bankers since they all went broke or two they are crooks... either way they need to be closed down. http://tinyurl.com/qhxpkyn

knukles's picture

William...

I almost lost it.
I first read "GuttenTag" as "Glutten Free"and began grinding my molars.

 

walküre's picture

DERIVATIVE SCHEISSE

indeed!

kaiserhoff's picture

Explosionen euch frei machen!

Jdog's picture

Like that old witch didn't know what is really going on? lol who is she trying to fool? She is just mad that now the entire world know s what "bail out " means, screw the tax payers. thats all.

i-dog's picture

Merkel hearts Reggie!

DoChenRollingBearing's picture

Merkel is too BIG to stomach...

eatthebanksters's picture

Berlusconi said that Merkel was 'unfuckable'.

Shevva's picture

I'm still trying to work out which toilet door it uses.

Nathan American's picture

nothing to see here...move along folks...everything is fine!

kilters's picture

Lets not forget that the Irish tax payer had to foot the bill, due to our sociopathic treasonous bankers and our corrupt politicians, instead of any German bondholders getting burnt.

 

DeadFred's picture

The NSA phone and email tapping included Irish politicians didn't you know? All pols pretty much everywhere will do what they're told or else. Sadly I can't add the /s since I believe this to be true.

FringeImaginigs's picture

Ireland, Iceland.  Almost the same aren't they? So how come the Icelanders told the bankers to stuff it and the Irish didn't? And I somehow figured that the Irish had learned to make bombs and use AK47's.

RacerX's picture

Even the Irish are sick of them:

http://youtu.be/YbLJgvpmu54

Cacete de Ouro's picture

I rather enjoyed the tapes...scandalous yes, but hilarious, yes...
Thats the way Drummer and his crew always went on, nothing out of the ordinary. If it wasn't so tragic it'd be a classic...
they're just jumped up muck scratchers though who got a bit of confidence...

slaughterer's picture

Jain must act like a puppydog to Merkel.  Otherwise, she pulls the plug.  

Inthemix96's picture

Merkel you daft bint,

Cook the fuckers properly the next time then.

We wish.

Inthemix96's picture

Or add more garlic,

Garlic works on owt.

Trust me bitch, I know about these things.

ParkAveFlasher's picture

Daft bint is playing in my house, in my house. 

WhyDoesItHurtWhen iPee's picture

Hey Angela, watch me pull a number out of my ass.

Colonel Klink's picture

If she were to pull a number out of her ass, that would be a HUGE number!

Ourrulersknowbest's picture

Our(Irish) banker scum are no different to German banker scum.
The difference is our scum fucked up and got caught out before ze German scum.
If our dipshit rulers had let this piece of shit banking scam go bust 5 years ago,ze Germans would have had a big domino blow up in their faces.
But hey,the truth will out.........
Eventually.

disabledvet's picture

"and they all end up going to Wall Street in the end anyways." move along...

Temporalist's picture

"For people who go to work each day and earn an honest living" clearly Mutti wasn't talking about any banksters or politicians.