Europe's banks go on a borrowing binge
Hundreds of billions of dollars are in play. Is this a good move, or did the eurozone take on a lot more risk?
Where did the ECB get all that cash to lend? Are our taxes going up?
So the banks that borrowed will allocate that money into cubby holes that creditors, shareholders and depositors cannot touch, then declare bankruptcy.
Sorry, I can't help it. I just started reading Ellen Schultz's book "Retirement Heist" and it's putting the worry in me.
Full Disclosure: I own no shares of Penguin Books.
Here we go again. Borrow until hurts or until someone ask "show me the money". What a shell game.
how about BANKRUPTING your balance sheet and starting over AGAIN...the short term pain in terms of years will outweigh the long-term death spiral
sounds like a wire and mirror fix these nations have to be willing to change philosophy
quit looking for big govt handouts or they will all go down
At least this European madness buys us on this side of the pond maybe two more years to work, invest, and keep paying down the mortgage.
So on a vacation to anywhere in Europe, I bet on the hotel bill, the rental car, the restaurant meal, the taxi cab ride, there will be a bailout tax added. They'll probably install pay toilets. "One Euro if you have to go."
Hmmm. I can see a new ABC television sitcom here.
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