HUGE bank goes down

[Dequeant]

http://money.cnn.com/2008/09/28/news/international/fortis_nationalized.ap/index.htm?cnn=yes

For those who haven't been to europe, that is pretty much the JP Morgan of europe. They have banks in every country i've been to......from turkey to england and everywhere in between.

[RonPaulVolunteer]

oh great.

[Kludge]

$16,400,000,000? Pfff, that's chump change.

[Omphfullas Zamboni]

This is not scary...

[Brassmouth]

Wow, the EU is using the same tactic the US government is. If that isn't proof that the US is a socialist nation I don't know what is...

[RSLudlum]

$16,400,000,000? Pfff, that's chump change.

LOL...yeah, it seems the public is starting to get de-sensitized with all these huge numbers.

1 quadrillion in derivatives, pfft we got that in our back pockets :p

[ItsTime]

So was lack of regulation the cause of that bank to go down?

[dsentell]

Whew! I can't believe they didn't ask the American taxpayers to bail them out . . .

[ItsTime]

Whew! I can't believe they didn't ask the American taxpayers to bail them out . . .

They are

[dsentell]

OMG! :mad:

Guess I'd better read that a little more slowly . . . .

[RonPaulVolunteer]

Whew! I can't believe they didn't ask the American taxpayers to bail them out . . .

They are.

[RSLudlum]

They are.

You know if you subsidize something the vultures swarm...Every bank in trouble is gonna be knocking on the door for a handout??

[danberkeley]

This is why the euro and the pound sterling are not safe currencies either. Buy gold and silver because most currencies, against gold and silver, will fall.

[olehounddog]

[QUOTE=ItsTime;1718083]So was lack of regulation the cause of that bank to go down?[/QUOTE

Nevermind. I had a brainfart.:o

[freelance]

You know if you subsidize something the vultures swarm...Every bank in trouble is gonna be knocking on the door for a handout??

The hedge funds are also eligible for bailouts--at least that's what I read. I know, let's just have a moneybomb and that'll solve everything. LOL!