Comments on: Too many hopes pinned on EU bank http://blogs.reuters.com/great-debate/2009/02/24/too-many-hopes-pinned-on-eu-bank/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Robert http://blogs.reuters.com/great-debate/2009/02/24/too-many-hopes-pinned-on-eu-bank/#comment-8749 Wed, 25 Feb 2009 09:41:08 +0000 http://blogs.reuters.com/great-debate/?p=2203#comment-8749 The EU bet at the casino and is in danger of losing everything.

Hubris, as always, seems to muddy the waters. Jump-starting 1940’s banking systems to 1990 standards looked impossible from the start, and its surprising nobody picked up on this.

Small countries borrowing in foreign currencies? Stupid. And the lenders, even more stupid.

In the future, small steps. Not giant leaps into the world of capitalism. Russia already suffered its own sovereign debt crisis. Now smaller countries: Czech, Hungary, Romania, Latvia, are about to face insolvency (not to forget about high-flying Iceland or Ireland of course).

When are idiot bankers going to start using their MBA’s and rely on solid facts, rather than running with the bulls in Spain (another perennial basket case)? How many times do we have to go through this irritating mess before we get real management?

Central/South American debt, Asian debt, African debt, Russian debt…..who are the idiots lending these people money? Stop lending them money. Most of the citizens of 80% of the world live for a year on little more than what I spend in 2 months on housing, and I am not by any means affluent. The other 30 million Canadians would agree with me on that.

All I see are self-important men in suits playing leapfrog to hand money to people who will never be able to repay it, just so they can book quarterly results and collect their fat bonuses.

Personally, I hope the whole system collapses so we can start fresh. All the fake money that was lent to people should be written off, all the bankers jailed (if stupidity is not a crime, make it one), and let’s go back to making real products.

The financial parasite has now caused 3 recessions in 20 years.

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