The Phaserl


The Secret Bank Bailout

from Global Research:

50 billion euros in Greece, 70 billion euros in Ireland, 40 billion euros in Spain – one Euro-country after another is forced to support its banks with huge sums of money in order to equalize the losses incurred by money worldwide from bad loans. But where do the billions go anyway?

Who are the beneficiaries? With this simple question the award-winning business journalist and nonfiction author Harald Schumann travels across Europe and gets surprising answers.

The rescued are not in the poorer Euro states – unlike commonly believed – but mainly in Germany and France. A large part of the money ends up with the creditors of the banks that want to be saved or must be saved.

And although these investors have obviously made bad investments, they are – against all logic of the free market economy – protected at the expense of the general public against any losses. Why? Who gets the money? Actually, simple questions, but that regard the core of European identity. Maybe the most passionate film on the banking crisis.

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1 comment to The Secret Bank Bailout

  • Ed_B

    There’s a problem with “bad loans”? Well, gee. I wonder if the incredibly low price of borrowed money has ANYTHING to do with that?


    The fact of the matter is this… banking is a VERY conservative endeavor and cannot be run successfully in ANY other way. The sooner these twits in banking and politics realize this, the sooner banks will stop being casinos for depositor money and start being banks once again, the sooner all this “moral hazard” and other self-inflicted banking problems will end. Apparently, it has escaped their notice that if the depositors wanted their money in a casino, they could do it directly via Wall Street and cut out the banker middlemen. But that is not what most people want. They want a safe place to put their money, often on a short to medium term basis, where it is absolutely safe AND collects a reasonable interest rate. No, this is NOT too much to ask. Banks did this for MANY years and were quite successful in the banking business. They do not need to resort to unbridled avarice in order to make a good living. They are only CHOOSING to do so… and the idiots in government whom they have paid off are letting it happen! 🙁

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