Archive for the 'Banking' Tag

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Germany: How to burn 300 Million of Taxpayer’s money in a second

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I guess everybody in the banking world around the globe has heard about the Lehman bankruptcy latest this Monday morning, everybody besides Germany’s largest government owned bank – KfW.

In an attempt to win the Darwin award for banks or by taking the name of the bank to literally (KfW – translated: Bank for Reconstruction), they transferred 300 Million Euros to already bankrupt Lehman during Monday. At the same time their government colleagues were closing the German Lehman subsidiary…

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Banking Crisis: The next domino stones are falling

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Certainly when you were watching the news today or read a newspaper this morning you could not avoid learning that the next “most prominent” victims of the current banking crisis were biting the dust.

I was quite interesting what kind of nonsense was pushed around in the mainstream media to calm down Mr & Ms Jones concerns about their money in the bank – one commentator / self-proclaimed expert was even thickheaded enough to say that…

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Animation: The Banking system

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As the FDIC has yesterday closed another bank (First Priority Bank) the eight US bank that failed this year, we thought maybe this series on the banking system might be inspiring.

It’s about 50min long and a mixture of animations and images. Anybody having a strong believe in the infallibility of our current economic systems and societies should be warned that this is not too positive about the banking system. Besides that with the…

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Shopping: Bear Stearns Memorabilia at Ebay

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After the whole company went for a fire sales price to competitor J.P. Morgan many of the Bear Stearns employees that now fear loosing their jobs have started to part themselves from their valued memorabilia of the once highly reputable Wall Street firm.

When you search…

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Visualizing the size of the banking crisis

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Sizing the issue at hand seems to be the first problem. Banks keep the so called derivatives off their balance sheets (because when looking at it with a sense of black humor these instruments are a bit like the banks’ own print run of casino chips – As long as others exchange them freely for real money that’s what they are worth. When that situation changes their value changes too – well, worst case to nothing or – better said, whatever someone is willing to pay for the illusion of value)…

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