crazy thoughts

Austerity Haircut for Shareholders and Employees of European Banks

September 8, 2011 - 15:29 — Van Beek

Employees of European banks get an Austerity Haircut

Who is getting the austerity haircut because of the lousy job done by the European banks?

 

Suppose you run a business. Your business is to lend money to those who pay it back and to charge an interest for that. Your job is to balance risk and reward and to make sure that you get a good total return on investment.

 

Now you are a European bank and you have lent money to Greece. You bought their bonds.

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