Monday, 22 February 2010

what took you so long, oh lord?

telegraph: Lord Mandelson backs state investment bank plan

The Business Secretary believes that a state-run bank could create funding streams for sectors that traditional banks might otherwise ignore.

It took the politicians far more than 12 months to finally understand that the collapse and then absence of "traditional banking" in connection with the banksters' egoism is drying out the economy; now of all things the German kfw has been detected as the possible bank-business-model that could help supplying the markets with credit. That's a joke?! Just remember the IKB disaster!

By the way, the proposed €5bn that Germany has to throw into Greek's hat to collect the €25bn will be printed by the same kfw. What a career from the Marshall Plan to the "global economic crunch super print shop"?

kfw = "Kreditanstalt fuer Wiederaufbau" meaning something like the "bank institute for reconstruction".

Why seek far afield and go through all the expense to "learn" from kfW? We own the RBS where "RBS" could well stand for "Re-Build-from-Scratch"!

Carpe diem!


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