Altair: Where Does It End? (6 Viewers)

Geof

Geof

Senior Member
#541
May 14, 2004
6,740
#541
LetsBrushYourTeeth said:
A governments' guarantee? That is pleasant.
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There was an agreement to raise the deposit guarantee throughout Europe, the first 100,000 € are now guaranteed. For the rest, every member State does whatever sounds good to their interest.

Belgium nationalised what was left of its financial imperium (Fortis, Dexia) and sold Fortis to BNP Paribas. Dexia could be sold too in the next days.

One of the most scary things of this whole crisis is the ban consolidation that is starting now. The banks that have enough funds to buy over there competitors (at ridiculously low prices) will become monsters when (of if?) the crisis calms down.
 

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Bjerknes

Bjerknes

"Top Economist"
Thread Starter #542
Mar 16, 2004
116,146
  • Thread Starter
    • Thread Starter #542
    The DOW has broken below 9000. :shocked: This is in contrast with one year ago when we were above 14000. Going down to the next support level at least.
     
    OP
    Bjerknes

    Bjerknes

    "Top Economist"
    Thread Starter #543
    Mar 16, 2004
    116,146
  • Thread Starter
    • Thread Starter #543
    Geof said:
    There was an agreement to raise the deposit guarantee throughout Europe, the first 100,000 € are now guaranteed. For the rest, every member State does whatever sounds good to their interest.

    Belgium nationalised what was left of its financial imperium (Fortis, Dexia) and sold Fortis to BNP Paribas. Dexia could be sold too in the next days.

    One of the most scary things of this whole crisis is the ban consolidation that is starting now. The banks that have enough funds to buy over there competitors (at ridiculously low prices) will become monsters when (of if?) the crisis calms down.
    Click to expand...
    If a bank doesn't have a problem right now, it's a pretty damn good bank. If those banks have to buy out some others that's just what has to happen for the economy.
     
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