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Forum Post: http://www.marketwatch.com/story/eu-bank-failures-will-crash-wall-street-again-2011-10-18?pagenumber=2

Posted 13 years ago on Oct. 25, 2011, 12:01 a.m. EST by number2 (914)
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6 Comments

6 Comments


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[-] 1 points by MattLHolck (16833) from San Diego, CA 13 years ago

so this market crash will leave the banks bankrupt ?

[-] 1 points by RobRob (45) from Manhattan, NY 13 years ago

No they have moved the debt from privet to public so the tax payer is on the hook.

http://occupywallst.org/forum/hooly-bailout-b-of-a-now-has-us-taxpayers-on-the-h/#comment-152626

[-] 1 points by number2 (914) 13 years ago

I don't know what kind of shenanigans they might pull; they are the elites they run the world. But they are insolvent, now. Their derivatives are valued many times more than the GDP of the world. So there is no way to pay the debts.

[-] 1 points by MattLHolck (16833) from San Diego, CA 13 years ago

if that;s the case,

why are these debts taken seriously ?

[-] 1 points by number2 (914) 13 years ago

my guess is that whoever is owed the money takes it seriously. So Greece defaults and they don't pay France and Germany who don't pay Goldman Sachs and Bof A. But there's also an insurance ponzi scheme where somebody pays somebody when somebody else defaults. Basically I think what happens is the profits get privatized and the losses get nationalized. But it's all over the whole world.

[-] 1 points by MattLHolck (16833) from San Diego, CA 13 years ago

these debts will go unpaid