Hypo Real Estate was racing to find a way to save itself after the German property lender revealed the collapse of a previous rescue plan that could pose the biggest threat to Germanyâs financial system amid reports a consortium of banks had reassessed the bankâs funding needs. http://www.ft.com/home/uk For our German members : http://www.handelsblatt.com/ That's going to be a funny weekend for the German government and especially for our hardcore hawkish Bundesbank president interest rate policy makers....
interest rate policy is perfect. rates should be higher, so all the fucking people without money in their pockets wouldnt buy things they cant afford. we would not have this problems, with EZB in USA. For shure
It astonishes me how ET'ers are getting pleasure by watching worldwide economies crumbling as though it's not going to affect them and their families & friends. Economies are going to get so ugly it's going to drive athiests to start to pray.
in good times church attendance falls to 30% of the congregation and in bad it rises to 70%,just another stat,for those who say technicals and prayer don't work
"It is believed that the banks baulked after the company revealed its financial position had deteriorated this weekend. The news added fresh urgency to crisis talks among European leaders, including Gordon Brown, the prime minister, who met in Paris yesterday to address the worsening global banking crisis. It could mean Germany follows the lead of other countries such as Britain and Belgium which have been forced to nationalise collapsing banks. Such a deal would wipe out a â¬1.1 billion investment made by JC Flowers, the US buyout firm. Frozen credit markets have starved Hypo of the capital that it needed to operate." - Sunday Times (London)
That explains why they were asking everyone to provide 10% for god today on one of those cable TV religious corporation shows. (I was channel surfing).
I saw an interview of ted turner on charlie rose a few years back and he let jim baker and tammy faye use one of his channels for there program,he said the donation money used to come to a p.o. box that he and baker were supposed to split 50/50 ,he said he would race over there,they each would,because baker would never split it fairly
Call it poetic justice. Europeans and Germans in particular were running their mouth - just two weeks ago with German secretary of finance Steinbruck as their spokesperson - on how Europe is magically dodging the bullet of the global credit crisis and how badly the USA is managing the situation. Just a few days later Europe is entangled in multiple bankruptcies and government sponsored bailouts.
Peer Steinbrück the German finance minister talked to the Bundestag during the election process about how US economic domination has now come to an end - later repeated by Ahmadinejad and Medvedev. Everyone around the world are talking down the USD, but are still wary of the importance of keeping stability to the financial systems. The UK (conflictingly), India and Japan (cautiously) are the most supportive of USD. That is basically what is happening...