Belgian Bank collapse

[Paddy]

The Belgian Bank Dexia is to be nationalised and spit up at the cost of hard pressed Belgian and French taxpayers.

The rescue of Dexia, which has global credit risk exposure of $700 billion, more than twice Greece's GDP. Dexia has 7 billion euros of securities linked to U.S. mortgages

Stange who EU laws are ignored when it suits them.
If banks make such stupid investments then they should be left to go under.

[TimberWolf]

Philippe Rucheton, the financial director appointed by Dexia in April 2009, coming from Société Générale, received a welcome bonus of €500,000.
Dexia - Wikipedia, the free encyclopedia

Will he be getting a goodbye bonus too?

[sasguru]

The Belgian Bank Dexia is to be nationalised and spit up at the cost of hard pressed Belgian and French taxpayers.

The rescue of Dexia, which has global credit risk exposure of $700 billion, more than twice Greece's GDP. Dexia has 7 billion euros of securities linked to U.S. mortgages

Stange who EU laws are ignored when it suits them.
If banks make such stupid investments then they should be left to go under.

So the French government will borrow money to take on Dexia's debts, thus taking their debt/GDP ratio even higher.

[DimPrawn]

So the French government will borrow money to take on Dexia's debts, thus taking their debt/GDP ratio even higher.

So the banking elite who control the World, will use the French govt puppets to borrow money to take on Dexia's debts, thus taking their debt/GDP ratio even higher.

[PAH]

Dexia has 7 billion euros of securities linked to U.S. mortgages

If banks make such stupid investments then they should be left to go under.

Will these be the subprime mortgages that were fraudulently packaged as low risk and sold to other companies?

Thus transferring billions (if not trillions) of fraudulent debt to banks and companies in other countries for their governments to bail out.

Has anyone even been arrested, let alone charged, for such a massive fraud?

Or is this the scam we're not supposed to talk about?

[TimberWolf]

Euro zone leaders must take "decisive steps"- Cameron

print money like the buggery as any prudent steward of the economy would do

Euro zone leaders must take decisive steps- Cameron | Reuters

[Churchill]

Will these be the subprime mortgages that were fraudulently packaged as low risk and sold to other companies?

Thus transferring billions (if not trillions) of fraudulent debt to banks and companies in other countries for their governments to bail out.

Has anyone even been arrested, let alone charged, for such a massive fraud?

Or is this the scam we're not supposed to talk about?

I think you're confusing the words "illegal" and "immoral".

That scam/scheme will have gone through probably the most expensive legal team on the planet and the guy who dreamt up that scam/scheme will have made an absolute fortune!

[TimberWolf]

I think you're confusing the words "illegal" and "immoral".

That scam/scheme will have gone through probably the most expensive legal team on the planet and the guy who dreamt up that scam/scheme will have made an absolute fortune!

Ditto presumably for the guy who massaged Greece's finances to get it to pass its Euro entrance exam.

[Churchill]

Ditto presumably for the guy who massaged Greece's finances to get it to pass its Euro entrance exam.

Yep, 'fraid so.

[PAH]

So, it's true, some people/companies are above the law by either having friends in the right places, or the wealth to concoct a defence no prosecution could ever win against.