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Bavaria/Germany | @ 7720gas
Can you or anyone else explain a stupid low educated Farmer like me, what does mean "BANK" today?
In Europe, bank can do business as bad as they wont, they cannot go bankrupt anymore! The smaller ones get taken over by the bigger ones, and the big ones are so called "System relevant" and may not go bankrupt in order of Governments! So if a bank is missing some billions, they do call thier governments and Governments do send my tax payer money to pay for the managers failures!
If a bankers failure is to big, he gets fired with a 10 year premium of his annual salary! Most time at the moment, I have the feeling, I´m living on the wrong planet?!?
I don´t know in USA, but in Germany we do have now a new System! It´s called teh "BAD BANK"! Don´t smile its real! If a bank has rent money and cannot get it back, e.g finazing the housebuilding in Ireland, USA and Spain etc, the just put this depts in to the BAD BANK divission. Just the Bvaraian Bank which has investments in LEhaman and many in to US Housing market has put aroudn 10000 Million Euro in to BAD BANK.
Noboady knwo how this debts will be paid..... But this bank is still makeing normal bank business with good profit! They do not pay anymore taxes to Govenment,. they take the profittax against thesi BAd BAnk money!
This will be spezially for Germany going to a big Problem. The real big Taxpayers, like Banks do not pay tax since 2 years and thy will, if thier will be no big crash, not pay any tax within the next 10 years!
Seems we run under our Cancelor Merkel in to Kommunism which means in to bankrupcy as Kommunism was going everywhere 20 years ago! And US with this smarty socialistic Obama is not far behind.... | |
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Greece done?
