2013-03-31, 02:01 | Link #101 |
Logician and Romantic
Join Date: Nov 2004
Location: Within my mind
Age: 43
|
Funny that. It seems the government is between a rock and a hard place. The big depositors are the ones that allow the banks to make the real money. But the small volume savers are the ones who allow banks to exist. So piss off big depositors = not making any money. Piss off small depositors = bank closes down. So they pick losing money over outright bankruns and default.
__________________
|
2013-04-07, 07:50 | Link #102 |
Franco's Phalanx is next!
Join Date: Apr 2012
Location: Little England, Europe and Asia
|
Concerning hypocrisy, a major German bank had established as many tax-evading companies as were in Cyprus, now I wonder, will Schauble levy the poor depositors of his own country too? Let's not forget that the same bank manipulated its books the "Greek" way too, in order to evade state intervention five years ago... then again I guess justice works differently for southern and northern Europeans these days
__________________
|
2013-04-07, 08:02 | Link #103 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
|
Quote:
Oh boy a major bank doing that same shit.
__________________
|
|
2013-04-07, 08:15 | Link #104 | |
Senior Member
Join Date: Dec 2008
|
Quote:
|
|
2013-04-07, 08:31 | Link #105 |
Franco's Phalanx is next!
Join Date: Apr 2012
Location: Little England, Europe and Asia
|
IMHO, and obviously not very popular one, bankers everywhere are just like the common thieves wearing suites... the difference is how they are treated depending on the caste or imaginary race they happen to be born into... e.g. Cypriot ones are screwed, but on the other hand Prussian ones just get a little bad publicity now and then
Remember that I condemn both for doing the same crap to their people, but I can not ignore the fact, that one group got totally screwed over for generations to come, while the other hardly notices it, in fact they give moral lessons to the other about how pious they are
__________________
|
2013-04-07, 08:47 | Link #107 |
I disagree with you all.
Join Date: Dec 2005
|
I'd just like to point out that, should Germany be in danger of defaulting, they'd be treated with the same derision and conditional help as any southern country but for two things:
- no one'd be big enough to pull them out of the hole; - if it comes to that, it can only mean that we're all already screwed. Last edited by Anh_Minh; 2013-04-07 at 09:27. |
2013-04-07, 08:48 | Link #108 | ||
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
|
Quote:
Though it seems like a black hole sucking in money and assets to me...... Quote:
__________________
|
||
2013-04-07, 09:19 | Link #109 | |
Franco's Phalanx is next!
Join Date: Apr 2012
Location: Little England, Europe and Asia
|
Quote:
__________________
|
|
2013-04-07, 09:31 | Link #110 | ||
I disagree with you all.
Join Date: Dec 2005
|
Quote:
Quote:
|
||
2013-04-07, 09:31 | Link #111 | ||
Senior Member
Join Date: Dec 2008
|
Quote:
Quote:
|
||
2013-04-07, 09:41 | Link #112 |
Komrades of Kitamura Kou
Join Date: Jul 2004
Age: 39
|
Ok honestly I don't know if it's just because I'm dumb, but how exactly is Germany comparable to it's Nazi past and current North Korea?
Because AFAIK when the Nazis came to power they actually instituted reforms to repair the damage incurred from the Treaty of Versailles, and clearly they don't have a cult of personality that NK has. This is a stupid comparison.
__________________
|
2013-04-07, 09:52 | Link #113 |
Franco's Phalanx is next!
Join Date: Apr 2012
Location: Little England, Europe and Asia
|
As I wrote, criticizing over-hyped German capitalists that spread misery Europe-wise is not popular... But unfortunately, you will figure out like your grandmothers did half+ a century ago
__________________
|
2013-04-07, 10:23 | Link #114 |
Nyaaan~~
Join Date: Feb 2006
Age: 40
|
Re: Deutsche Bank -- The claims that they may have hidden CDS valuation losses to avoid default is concerning. That said, as a person familiar with CDS, their valuation is incredibly opaque. There's no appropriate central clearing house and as they are defined and written as "contracts" there are often varying assumptions and disputes for when they do or do not get paid out.
As for the "offshore accounts issue" -- as I mentioned this to other people. Both criminals as well as wealthy individuals, many of whom had made their money legally, use off-shore accounts and corporate structures to avoid taxation. A famous one that I see a lot is HoldCo - ShellCo1 (Canadian) -> ShellCo2 (Barbados?) -> OpCo. It is not the offshore nature of accounts that are the issue, it's in particular, the illegal ones. There is such a thing as "legal tax evasion/deferral" .. ask any CPA? The difference between Deutsche and Cyprus is obvious, the story clearly tip-toes around the subject, but Deutsche's CDS business is part of its securities lending and wholesale banking arm. Cyprus' deposit business is part of its business, retail, business and perhaps wealth management business. The comparison perhaps not clear to many is in the degree of stupidity and near criminal irresponsibility. You can take my word for it or not but Cyprus offering deposits 5% was 4 degrees of magnitude more stupid and was done by a single entity. Whereas Deutsche's retail operations were sound, strong and remain so, but the wholesale division apparently was not -- even then that is not yet clear and is currently an allegation. Have a look at an old Moodys report on Deutsche to better understand large complex financial institutions: https://www.deutsche-bank.de/ir/de/d...5_Jul_2011.pdf
__________________
|
2013-04-07, 11:54 | Link #115 | ||
I disagree with you all.
Join Date: Dec 2005
|
Quote:
Or what, it can be summed with "it's all the fault of German bankers"? Quote:
|
||
2013-04-07, 12:55 | Link #116 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
|
Quote:
Though it begs the question, why would big business owners want to evade tax by offshoring their monies?
__________________
|
|
2013-04-07, 13:15 | Link #117 | |
Nyaaan~~
Join Date: Feb 2006
Age: 40
|
Quote:
So, CanadaCo->HoldCo1->HoldCo2->EuropeCo B.V. So he has a European company that conducts operations in that country with shared services agreements with CanadaCo. Remember, countries have different tax treaties with each other with regards to double-taxation etc, so you want to efficiently flow your profits back to your shareholders while efficiently navigating the myriad of international laws.
__________________
|
|
2013-04-12, 05:52 | Link #118 |
Franco's Phalanx is next!
Join Date: Apr 2012
Location: Little England, Europe and Asia
|
I should have chosen another title, but current events got the better of me, in hope of some hope from the union
Anyway, more sad news, Schauble ridiculed the Greek FM about the unpaid Nazi War reparation, Cyprus needs about the double, maybe triple the money to execute Germany's bank rescue plan, after they one-shot the country's economy, and an obscure euro-group directive was brought up by the usual suspects about levying depositors in fear of a French bank collapse... all these from German media, in between @Ahn_Minh: Whining You misunderstand observations and criticism from a perspective that the majority here does not want to listen to for whining... it is the easiest thing in the world to discard other perspectives as whining, trolling, etc... that is just evading constructive dialogue... or to put it in the opposite perspective from mine, despite personally disagreeing with the point of view from most capitalist-fanboys&girls/communist-haters here, I find their opinions (stripped of insults and degradation of counter-arguments, instead of constructively arguing against them) constructive after filtering them of useless emotions, since I don't abide to either ideologies
__________________
|
2013-04-12, 05:58 | Link #119 | |
Banned
Join Date: Nov 2003
Location: Hamburg
Age: 54
|
Quote:
German capitalists don't spread misery, they are called by countries who brought misery on themselves by ENTIRELY their own volition, and who now demand that German money should bail them out. And in return we're being insulted as Nazis. I've explained that several times and still you insist on this "spread misery" crap. Why is that? |
|
2013-04-12, 06:31 | Link #120 | |
Senior Member
Join Date: Dec 2008
|
http://www.bbc.co.uk/news/business-22106194
Quote:
|
|
|
|