Quote:
Originally Posted by notime
So the crooked bankers get saved since the governments wanna save the consumers whereas the shareholders take the financial fall for it.
I wonder if this resolves the problem. Probably not, just the temporary pressure.
Any Germans in here that more info to share?
|
actually there are a couple of things not quite correct:
first of all it's not "banks", this law is only temporarily and only for "Hypo Real Estate (HRE)". it will automatically expire on June 30, 2009
second: it will only happen if HRE is going bankrupt - or better: to prevent HRE from going bankrupt. cause in that case a couple of other banks and insurance companies might go under as well. which could crash German (and European) economy totally.
i'm not a supporter of this usually but in this case it seems to be necessary to have this as a last resort