Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

no more banksters

(395 posts)
Wed Jan 13, 2016, 07:00 AM Jan 2016

The Secret Bank Bailout

50 billion euros in Greece, 70 billion euros in Ireland, 40 billion euros in Spain - one Euro-country after another is forced to support its banks with huge sums of money in order to equalize the losses incurred by money worldwide from bad loans. But where do the billions go anyway? Who are the beneficiaries? With this simple question the award-winning business journalist and nonfiction author Harald Schumann travels across Europe and gets surprising answers.

The rescued are not in the poorer Euro states - unlike commonly believed - but mainly in Germany and France. A large part of the money ends up with the creditors of the banks that want to be saved or must be saved. And although these investors have obviously made bad investments, they are - against all logic of the free market economy - protected at the expense of the general public against any losses. Why? Who gets the money? Actually, simple questions, but that regard the core of European identity. Maybe the most passionate film on the banking crisis.


5 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
The Secret Bank Bailout (Original Post) no more banksters Jan 2016 OP
Bookmarked daleanime Jan 2016 #1
damn . . . .n/t annabanana Jan 2016 #2
The bankster's motto: socialism for me, not for thee. mountain grammy Jan 2016 #3
You nailed it. n/t Skwmom Jan 2016 #4
Excellent! JDPriestly Jan 2016 #5
Latest Discussions»Retired Forums»Socialist Progressives»The Secret Bank Bailout