Dexia, toxic loans and bankrupt cities (ES on FR2)

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Christophe
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Dexia, toxic loans and bankrupt cities (ES on FR2)




by Christophe » 10/05/12, 22:57

After dealing with the case of public bankruptcies in American cities (see: https://www.econologie.com/forums/faillites- ... 11292.html ), Special Envoy broadcasts a documentary on the over-indebtedness of French cities because of toxic loans (from Dexia in particular)

The report was obviously shot in 2011, since Dexia has gone "bankrupt" (humhum ...).

I wonder if France2 was not waiting for the change of government to broadcast it !!

A review here: http://envoye-special.france2.fr/les-re ... -4343.html

Bankrupt cities

Keywords: Foreign Education Health Society

Small towns, big cities, hundreds of municipalities in France are on the verge of bankruptcy. Because of loans, banks, elected officials, who are playing with fire and who will pay the bill?
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by Capt_Maloche » 10/05/12, 23:19

and who will pay the bill?



It’s new! :?
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Re: Dexia, toxic loans and bankrupt cities (ES on F




by Cuicui » 10/05/12, 23:53

Christophe wrote: since then Dexia has gone "bankrupt" (humhum ...).

Does this mean that borrowers will no longer need to repay?
Another question: why aren't these banker-swindlers still in prison? I hope that the procedures for filing complaints will go to the end.
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by Obamot » 11/05/12, 04:50

And rebelotte !!! Always the same inaction, because of the same taboo?

- again a private bank is going bankrupt!
- again the state flies to its rescue!
- again, the banks are pooling losses, and the others are privatizing the fuel ...

Now is the best time to renegotiate sovereign debt, right? : Mrgreen:
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by dedeleco » 11/05/12, 15:00

It's recent :
the city has decided to pay 3,9% interest at a fixed rate indicated on the notice with formula hidden in the contract flown away at 25% !!!

http://www.bfmbusiness.com/tags/collect ... xia-105270

http://www.bastamag.net/article2342.html

http://www.lagazettedescommunes.com/868 ... t-etienne/

Saint Etienne set its interest rate at 3,9%. A rate decided unanimously in municipal council. It is absolutely not legal, but the city says it had no choice. Dexia refused all negotiations.

Saint-Etienne borrowed in 2008 from the Franco-Belgian bank 4 million euros. She received her invoice: according to the calculation formula, indexed on the parity between the euro and the Swiss franc, the interest rate soars: they drop to 25% this year, an additional 800 euros, the cost of operating schools in the city.

Like Saint-Etienne, a hundred communities have made the same choice. Others have sued the bank. In total, more than 5 communities and public establishments are concerned.

The problem is that these toxic loans are now guaranteed by the State. Structure of bad bankruptcy or not, unless the local authorities are ordered to pay, the supplement is for him.


The scam breaks all records:

However, the functioning of snow ball is particularly perverse since it is about cumulative interest rates: that is, interest rate increases add up to 20%, 30% or even 40%.
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by Philippe Schutt » 11/05/12, 21:11

Dexia, a private bank ??

Belgian state: 10%
French state 5%
CDC (French state): 18%
CNP (41% French state): 3%
Municipal holding company (association of cities): 14%
ARCO Group (pre-war association and worker system): 14%
Ethias (group of Belgian municipal and provincial administrations): 5%

Small carriers, or finally private individuals: 29.3%

To me, thieves steal from other thieves, therefore there is no harm.
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by Obamot » 11/05/12, 21:22

Ok, thanks for that clarification.

It had been presented as a private bank for the news ... Now it looks like someone who would shoot himself in the foot ...

So the state would fly to the aid of the state :?: : Mrgreen: There's nothing better to do ...

Conclusion: that does not change the basic problem. It was at the time of the great crash that we had to renegotiate sovereign debt to private bankers, when they still needed our money ...! Now it will be much harder ...
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by Philippe Schutt » 11/05/12, 21:49

yep. and by the way most of our banks and insurance companies are very public. they are only games of writings so that a whole caste of high officials and politicards can emerge on various boards of directors and palpate in passing, not to mention the expense reports of the brave administrators.
Leeches are not only our billionaires who must earn their money to slam it, but well our elected officials who burn our money to live on big feet.
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