Nationalization of Fortis! Who wins who loses?

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Christophe
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Nationalization of Fortis! Who wins who loses?




by Christophe » 29/09/08, 08:27

"Europe cannot be affected by the American financial crisis, it is impossible" according to Reynders this morning. So what is the rescue plan? In addition, we are talking about saving "small" savers but what about current loans? A lot of people would like to no longer have to pay their mortgage loan (mortgage loan in French). Bankruptcy goes both ways, right?

But I certainly dream and as usual it only goes in one direction with the bankers, that is to say: not the one to your advantage ...

To crown it all, the journalist who asks (when nothing is done): "When is the State going to sell its shares?"

And pkoi the Belgian state should not profit from its investment?

As an example of "privatizing the gains, nationalizing the losses" I believe that Belgium has just done a lot ...

Be careful, I'm not saying that we had to let the biggest bank in Belgium go down (because of the dominio effect and incidentally because I'm there ...) but I would simply like this to serve as a lesson for those at fault ( blablabla), that there is not total impunity and, on the contrary, benefits forever the "same" ... when the State resells its shares ... : Evil:

Let's watch the course of the action day ...

Fortis saved by the state to reassure savers "once and for all"

29/09/2008 07:50

An agreement would have finally been reached with the snatch this Sunday evening, and this, very late in the evening. The objective was to protect Fortis and its depositors from a real financial earthquake. It therefore took a whole weekend of negotiations and the consultation of Jean-Claude Trichet, President of the European Central Bank, to find a favorable solution to protect the assets of Belgian savers.

The solution which was finally adopted provided for the intervention of the Belgian, Luxembourg and Dutch authorities. The Belgian government injects 4,7 billion euros in Fortis Bank Belgium, the Luxembourg government 2,5 billion in Fortis Bank Luxembourg and the Netherlands 4 billion in Fortis Bank Nederland. Each time, the respective governments take a 49% stake in the Fortis bank located on their territory. It is therefore a form of nationalization because, even if the State is not the majority with 51% of the capital, it becomes the first shareholder of the bank. On the other hand, no one knows at the moment for how long it will remain in the capital of Fortis.


http://www.trends.be/fr/chronique-econo ... nants.html

ps: ditto for France if it should happen since the State has stood, according to Sarko, guarantor of any bankruptcy ... except that in France we already have experience with Lyonnais credit. Besides, if kk1 knows the subject it interests me: who had won who had lost at that time (I was a little young)?
Last edited by Christophe the 29 / 09 / 08, 08: 36, 1 edited once.
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by Christophe » 29/09/08, 08:31

Hey quiz question: you believe that Fortis, once nationalized, will make zero-rate loans to governments? I bet no ... you should definitely not become ... honest and make unfair competition to other banks ...

https://www.econologie.com/l-escroquerie ... -3920.html
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by Bibiphoque » 29/09/08, 09:53

Hello,
Funny, 3 months ago, a "financier" advised me to buy fortis shares, I did well not to listen to him!
What will she still want when the "rescue" is effective?
@+
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This is not because we always said that it is impossible that we should not try :)
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by Christophe » 29/09/08, 10:05

Bibiphoque wrote:What will she still want when the "rescue" is effective?
@+


Well, it should boost today ... I bet around + 10% at the close.

A little "+ 3.9%" at 10:15 am:
http://www.boursorama.com/cours.phtml?symbole=FF11-FORB

While the rest of the ACC is well in the red at -3% !!
Last edited by Christophe the 29 / 09 / 08, 10: 12, 2 edited once.
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Re: Nationalization of Fortis! Who wins who loses?




by bham » 29/09/08, 10:06

Christophe wrote:
Please note I am not saying that we had to let the largest bank in Belgium flow (because of the domino effect and incidentally because I'm there ...) but I would just like it to serve as a lesson to the culprits (blah, blah), that there is not total impunity and, on the contrary, profits forever the "same" ... when the State will resell its shares ... : Evil:


So say Christophe you must have had cold sweats :|

Completely agree with your conclusion; that leads me to think further that it is now becoming politically correct to ask whether the privatization of public establishments, such as La Poste, is really desirable.
The market economy is based on free enterprise, on an automatic regulation of the market, a kind of giant arena where we play to win or lose money, mostly through virtual operations.
The problem is that these financial transactions have a very real impact on the daily life of the citizens of the world and that the "don't give a damn about their pockets", by their little stupid games commonly accepted as being the norm, put endanger the economic and financial balance of the whole world.
The states wanted, I do not know why, to disengage from the production of national currency and public enterprises, to better let the private sector do better, as everyone knows. : Cheesy: ; we see today what it gives and without the public authorities, we could undoubtedly witness a magnificent domino effect on a global scale, leading to the fall of the largest world economies, the loss, by all savers, of their claims and most certainly uncontrollable popular mass movements leading to total anarchy at the level of the powers in place.

This grain of sand in the economy that is the subprimes can or could have been (let us be optimistic) to be a terrible detonator exploding the political and economic order in place on a planetary scale. Trust your banker, your insurer? to do what ?
I sincerely believe that in economic matters, States must once again become masters; human nature cannot be allowed to jeopardize a fragile economic balance; States must take matters into their own hands but with drastic controls concerning the management of public money ... so as not to see the recurrence of "Crédit Lyonnais", "Tapie" and Cie cases .....
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Re: Nationalization of Fortis! Who wins who loses?




by Christophe » 29/09/08, 10:11

bham wrote:So say Christophe you must have had cold sweats :|


Well no ... since I have no savings: when I have money I put them in the optimization of the house (deom, solar improvement, aries, garden ...): it pays a lot more ( in satisfaction but also in property valuation) than the misery that bankers dare to give in Belgium (1.5% per year ...)! : Cheesy: : Cheesy:
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by Christophe » 29/09/08, 11:06

How amazing: -10% for Fortis at 11am

Even more amazing: -22.74% for Dexia!

So Mr. Reynders ... what can not touch European banks?

The worst is yet to come for "them" ... indeed ...

So buy and consume before your bank account "fades" ...
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by robertlebois » 29/09/08, 11:13

Hi bham,

Completely agree with everything. It is time for the states to regain control over several areas such as economics and finance.
We can clearly see where this liberal anarchy is taking us.

But we must not forget that the world financial organization and still current was set up (and controlled?) Mainly by the USA and the UK.

The rotten system is falling. It will surely be a bit difficult in the years to come, but it is bad for good.

It is time for our states to regain control, even if it means putting a few barrels of Uranium in the ass of the most rotten like this Russian billionaire who has robbed the interests of Russia and therefore of the Russian people and it is crossed out with the money in England.

What is certain is that the most rotten will cry out in scandal, give moral lessons to the Russian because it will annoy them in business. They will surely cry out in the name of morality because they do not want others to apply the same methods to protect themselves, these same methods that they use to manipulate the system.

Robert
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by Nautilus » 29/09/08, 11:37

robertlebois wrote:Hi bham,

Completely agree with everything. It is time for the states to regain control over several areas such as economics and finance.
We can clearly see where this liberal anarchy is taking us.


Robert


For that it would be necessary first that the people regain control of the state .... because it is not at all the case. If the state continues to be dominated by large economic groups, it is sure that it will not change anything.
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by Christophe » 29/09/08, 11:39

For this it is necessary to disseminate to the maximum of people this kind of news and news: https://www.econologie.com/l-escroquerie ... -3920.html

Why not mail your contacts? It will change mailings to the con of the chains of bad luck which regularly pollute the mailboxes ... : Evil:
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