First “bad bank” set up for E astern Europe

[Cees Binkhorst]

REPLY TO: D66 at nic.surfnet.nl

'Bad idea' zou ik zeggen, maar wel te verwachten.
Madoff had toch ook een handlangster in Oostenrijk ;)

Overigens had ie ook een handlangster in Nederland, in Arnhem om precies
te zijn. En zij had weer een assistent, die ook voorkwam in het
onderzoek naar het ongeluk met het El Al-toestel in de Bijlmer.

Eigenlijk vreemd dat dit DNB nooit is opgevallen. Die dame en heer
hadden toch een bankvergunning nodig?

Groet / Cees

Antid Oto wrote:
> REPLY TO: D66 at nic.surfnet.nl
>
> First “bad bank” set up for Eastern Europe
> By Markus Salzmann and Wolfgang Weber
> 30 January 2010
>
> In the middle of January the first so-called “bad bank” for Eastern
> Europe was set up in the Austrian capital of Vienna. It has initially
> been allotted funds totaling around $250 million, but is expected to
> receive a much larger sum—$1.5 billion from the World Bank.
>
> Lars Thunell, vice-president of the International Finance
> Corporation—a subsidiary of the World Bank, which set up the
> fund—justified the move by pointing out that Eastern Europe was one of
> the regions that had been hardest hit by the worldwide financial
> crisis. This has led to a dramatic rise of bad loans, which will
> either never be repaid, incompletely repaid or only paid at a much
> later date than originally agreed.
>
> The bad bank has a dual purpose:
>
> Firstly, its priority is to protect West European banks from defaults
> on billions of euros of loans—such as those recently declared by the
> German Bavarian State Bank—by centralizing such toxic assets and other
> securities in the new “bad bank.”
>
> Secondly, banks freed from the burden of such bad loans on their
> balance sheets will once again be able to trade and speculate freely.
> The “toxic assets” will be exchanged on the basis of a decreased book
> value for debenture bonds. Banks with large bad loans on their balance
> sheets, which until now were denied fresh capital from central banks,
> will now be able to submit their debenture bonds with central banks as
> security for new credits. The whole circus of highly speculative and
> profitable financial speculations that led to the financial crisis in
> the first place can recommence, as if nothing had happened.
[weggelaten]

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