HRE "bottomless pit"! The ailing banks will sometimes only with my money - kept alive - I am also taxpayers. The politicians are totally incompetent and will be presented by the German Bank Chief Ackermann. So still said our financial expert Steinbrück (he reminds me again by Mr Eichel) not too long ago, the crisis relates primarily to the U.S., and we had the bad real estate loans in principle nothing to do. Our East German leader and thinker volks-/finanzwirtschaftliche said even the security of all An-/Einlagen (Lehman Brothers, Isand etc.) need to guarantee, without any idea of them have what sums she speaks. And now the banks are already on the "business as usual" at least for the bonus payments - terms - partly through taxes such as in BLB, Dresdner, HSH Nordbank, etc.. It is striking that our public institutions are in the front row here. Who should regulate what here, please? (See extract of the press releases below).
What bothers me particularly, the hypocritical politicians who appeal shocked or even outraged at morality and decency. I think sometimes I can not hear properly. It is their task to determine not only now as a co-owner of supported banks, the rules. If you are elected as representatives for this to create the legal framework that ensures an equitable and the social market economy. Otherwise one would have to ask whether the market economy has failed, but also what should take its place. Perhaps there is a corresponding master plan already. In my circle there are quite a few, including bankers, are convinced that the plans for a currency reform (EU / USA) are already prepared in the drawers. That would explain the overwhelming and never-ending debt, which must result in an expected interest rate rise in the disaster. The exchange of assets and investments in property values shows how serious that experts now.
. PS: What strikes me the amount of state aids to be mentioned in the press: For the 9 largest U.S. banks are spoken in the sum of 123 billion euro support, do better, we already soon easily our small HRE alone! That is mainly a problem for the U.S.? At one HRE collapse the entire global financial system would have perished! What has been done to rule out something in the future?
press statements on the subject:
(SZ-online) - 31.07.2009
New York (AP) - Billions in state aid on the one hand, lavish bonuses on the other: Nine of the largest U.S. banks by the taxpayer last year together $ 175,000,000,000 (123 billion €) and get paid while 32.6 billion U.S. dollars in prizes. This is the New York Attorney General Andrew Cuomo on Thursday sharply criticized. The billions of bonuses included in part, despite enormous losses.
(derStandard.at) - 29.07.2009
BayernLB will pay off despite ten billion government aid bonuses and is thus not only to counter the policy will
Munich / New York / Vienna - When it comes to money, It is not typical Bavarian hospitality far away. In Bavaria, the resident Landesbank BayernLB heated again a few feathers. Michael Kemmer, CEO of the Institute, has advocated a "defined benefit" payment of the employees of his bank. Specifically, this means that at year-end bonus payments to flow to successful employees
(Focus-Money Online) - 28.07.2009
The government bailouts and stimulus packages bring them big profits. Thus, the German bank benefits as a leading bond trader from increased capital needs of governments and companies. Economically, the question is how high the risks are assumed by the bank in such transactions. Because - and this is a lesson from the crisis - take action in an emergency always the taxpayers.
(Handelsblatt) - 21.07.2009
FRANKFURT. It must be possible for failed institutions, including the Dresdner Bank, Hypo Real Estate (HRE) or IKB ordered to quit the market, "said Uwe Fröhlich, president of the Federation of German folk Cooperative Banks (BVR). Basically, the billions of aid the federal government for these institutions are to be welcomed, because they had protected the industry from harm. If, however, such as the IKB with combat conditions in the market jump, go to the "expense of all other institutions".
(AFP) - 11.02.2009
Munich (AFP) - The hard-ailing real estate financier Hypo Real Estate (HRE) is now being held with over one hundred billion euros in state aid alive. HRE gets from the bank rescue fund SoFFin guarantees amounting to another ten billion euros to secure financial transactions, such as the Institute announced in Munich. Since October, the Bank has received assistance amounting to 102 billion €.
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