Quote:
Originally Posted by CarlosTheGaucho
Tell me specifically, in points, what am I wrong in?
What specifical experience do you have with the European banking system, especially in the central and Eastern Europe?
I am always glad to educate myself. But you can't argument with something being "wrong" - that's always relative. 
I'm out of the discussion again, time to make a dime. |
I had a number of investments in the area. I was involved with one of the larger investment funds in Eastern Europe, which had over $100 million dollars. I have a large number of friends who have or had similar funds throughout the Baltic States, Poland, Hungary, Bulgaria and Germany. I have spent a considerable amount of time living throughout Europe and specifically Eastern Europe the last 10 years. My wife is also from Eastern Europe originally and I know the problems the majority of her family is having right now being buried in debt and completely out of work. I have met numerous times with top executives of the Baltic divisions of the 2 largest Swedish banks in the area. So I can say with some authority that you are wrong about the lax lending standards, personal debt and the problems the banks are having.