Giant Sucking Sound? Emerging-Markets Fiasco To Topple European Banks

It’s not like Europe is out of the woods, after years of recession, lurching from bank bailout to country bailout, and sweeping remaining fetid matters under the rug. But its banks are now sinking deeper into an even greater morass: the emerging-markets fiasco.

Read…. Giant Sucking Sound? Emerging-Markets Fiasco To Topple European Banks

2 comments on “Giant Sucking Sound? Emerging-Markets Fiasco To Topple European Banks
  1. YoLithos says:

    Most or all of these loans have guarantee and fallback clauses that favor the lender, who then claims “losses”, and bleed assets dry – much as was seen in the US mortgage bust. If they do, they just adjust the type and poundage of flesh they dig into. Ask John Perkins. Ask Greg Palast. Ask Naomi Klein.

    The lenders have played the same game for a couple of centuries, at least. It is a continuation of the “lending games” played by Italian (and other) bankers against fiefdoms whole kingdoms, in the Middle Ages and Renaissance. They know things go bust. They are always prepared and waiting to profit from it. With trade monopoly agreements, for example. It’s part of their ghoulish financial vampire’s game.

    The lesser suckers that won’t be in on the rebound deals get wasted, as usual. Nothing new, there.

  2. Maria heavens says:

    Agree with above. The Pilgrim Society causes all the trouble & loss for us. Time we saw them for what they are— a scourge for humanity that must be recognized and rejected.