German govt. bails out bank for $1.4B

http://edition.cnn.com/2008/BUSINESS/02/13/germany.ikb.ap/index.html

 

I think we all knew that it would come to this in the end, we hoped it wouldn't but realistically we knew this is what would happen. Happened in the UK with NR and now in Germany, only a matter of time it will happen in the US too (some will say that it already happened with CFC's $55B loan) and the floodgates will open.

http://online.wsj.com/article/SB120294935869166831.html?mod=hpp_us_whats_news

 

Only $1.4B to bail out a bank? That's cheap. I remembered reading WSJ that GS paid it's top M&A $1B in bonus in 2005 or 2006. And that was just 1 person.

 

http://www.guardian.co.uk/feedarticle?id=7316784

Coming soon to a bank near you.

 

As i remember the guy does not work anymore for GS - in effect he was claiming GS did not compensate him in an appropriate manner...