Banks nationalized....

[ssd]

Dexia (belguim) gets nationalized Sunday afternoon.
Max Bank (Danish) gets nationalized.
Proton Bank (Greece) gets nationalized.

Greece still does not have approval for the issuance of its next disbursement from the bailout fund.

In the latest round of european bank stress tests, Dexia was listed as one of the STRONGEST banks.

And, just to be clear - if you hear about the IMF stepping in to build a firewall around the eurozone, the US pays 25% of all IMF funding.

But hey, futures are UP on the news of the bank nationalizations.

Privatize the profits but when the schemes go bad, put the losses on the backs of the taxpayers.

 

[Duff Miver]

Dexia (belguim) gets nationalized Sunday afternoon.
Max Bank (Danish) gets nationalized.
Proton Bank (Greece) gets nationalized.

Greece still does not have approval for the issuance of its next disbursement from the bailout fund.

In the latest round of european bank stress tests, Dexia was listed as one of the STRONGEST banks.

And, just to be clear - if you hear about the IMF stepping in to build a firewall around the eurozone, the US pays 25% of all IMF funding.

But hey, futures are UP on the news of the bank nationalizations.

Privatize the profits but when the schemes go bad, put the losses on the backs of the taxpayers.

Sell gold, short Euros....

 

[ssd]

Same game different names.

Insert AIG, or Lehman, etc for any of the bank names as you see fit as far as I am concerned.

All of the financial machinations and trillions spent since 2008 have bought us 3 years.

The can they are kicking keeps getting heavier and doesn't travel as far with each kick.


oh, and not to be outdone:
"Beijing will buy more shares in China?s biggest banks, in an expression of support for the beleaguered stock market and most concrete state action to date to shore up confidence in the slowing economy."