Comments on: Debt Train – The first shipments arrive.

By: 46Martman

46Martman — Sat, 15 Jan 2011 11:20:20 +0000

dah_sab said...
I love that last part, where it is just assumed that "massive state bank bailouts" are available as & when needed

Yes indeed. It would seem it's now ingrained in banking DNA. That any banking failure will naturally receive an immediate bailout.
It should be written in large headlines (although we know it won't) across the red tops.
An end to the natural assumption that Europe's/USA's taxpayers will aways come the aid of failing banks. Is something that needs urgent attention. The sooner politicians and central banks introduce measures which include regulations that state clearly that NO bank is to big to fail. The better we all will be. Without such measures a return to an economic disaster much worse than the one we've experienced is inevitable.

By: dah_sab

dah_sab — Sat, 15 Jan 2011 03:29:50 +0000

That spread started to widen two years ago amid lingering concern that Austrian banks’ investments in eastern Europe may go bad and require massive state bank bailouts.

I love that last part, where it is just assumed that "massive state bank bailouts" are available as & when needed. This is a good example of how a very contentious issue is now presented in the media as simply the way things are done, with no further discussion necessary, no hint that there's even an option to do otherwise. If a bank goes bust, then of course the state will bail it out!

By: Whistleblower IRL

Whistleblower IRL — Fri, 14 Jan 2011 14:57:44 +0000

In addition to Golem's point about UniCredit being hit with a train load of debt from east, there is more trouble brewing in the west. Kathleen Barrington reported in Ireland's Business Post last Sunday that "The Central Bank of Ireland has initiated another review following further media reports of alleged liquidity breaches at the Irish subsidiary of a leading international bank in 2007." http://www.thepost.ie/themarket/new-probe-into-liquidity-breaches-53862.html

Kathleen Barrington refers to the question raised by Dr. Graf in the Austrian parliament on 23 Dec. 2010, the link to the question is:
http://www.parlament.gv.at/PAKT/VHG/XXIV/J/J_07341/index.shtml

A previous article by Kathleen Barrington relates to the curious way in which "UniCredit Bank Ireland reclassified €3bn of assets":
http://kathleenbarrington.blogspot.com/2010/12/unicredit-bank-ireland-reclassified-3bn.html

For further reading about UniCredit Ireland and the Irish Regulator's handling of its business conduct, please see the cover story in the recent edition of Village magazine:
http://www.villagemagazine.ie/index.php/2010/12/still-waiting-for-the-truth-from-the-regulator/

For further information about UniCredit Ireland, please visit my blog at:
http://whistleblowerirl.blogspot.com/

Regards,
WhistleblowerIRL.