Comments on: Quote of the day: Austrian banks http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html Sat, 21 Nov 2009 08:48:41 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: JKA on economics http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2373 JKA on economics Wed, 07 Jan 2009 11:47:20 +0000 http://www.creditwritedowns.com/?p=3278#comment-2373 Good News today on the UK banking system. According to the Chancellor Darling interviewed in todays Financial Times, one of the UK's CEO's had declared a change in policy. " Now we are only investing in markets we understand" ! JKA Good News today on the UK banking system. According to the Chancellor Darling interviewed in todays Financial Times, one of the UK's CEO's had declared a change in policy. " Now we are only investing in markets we understand" !
JKA

]]> By: edwardnh http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2388 edwardnh Wed, 07 Jan 2009 05:55:20 +0000 http://www.creditwritedowns.com/?p=3278#comment-2388 Isn't Darling the same man who just yesterday admitted he didn't realize this was going to be a deep recession? He looks to be losing all credibility Isn't Darling the same man who just yesterday admitted he didn't realize this was going to be a deep recession? He looks to be losing all credibility

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2304 Edward Harrison Tue, 06 Jan 2009 12:54:23 +0000 http://www.creditwritedowns.com/?p=3278#comment-2304 I hear you Jan-Martin. She is not necessarily saying its true but that many Austrians believe the Germans will bail them out. And she is not the only one saying this. I have now heard it from one other source. Wishful thinking? Perhaps. As to the Germans holding back on fiscal stimulus, I'd have to agree, iit is a purely domestic concern there. What is your view of how stimulus i being perceived by ordinary Germans and its effect on upcoming elections? I hear you Jan-Martin. She is not necessarily saying its true but that many Austrians believe the Germans will bail them out. And she is not the only one saying this. I have now heard it from one other source. Wishful thinking? Perhaps. As to the Germans holding back on fiscal stimulus, I'd have to agree, iit is a purely domestic concern there. What is your view of how stimulus i being perceived by ordinary Germans and its effect on upcoming elections?

]]> By: jmf http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2302 jmf Tue, 06 Jan 2009 11:56:40 +0000 http://www.creditwritedowns.com/?p=3278#comment-2302 Moin Edward, this is probably the first time i think Yves is wrong. The only reason that our "stimulus plan" isn´t already on track is because the polticians are already campaining for an election that will shake up the previous party landscape..... There is also no way Germany will come to the rescue of another country. To be honest i´m very surprised that this kind of rumor is even being consired as a "credible" one. Especially when i think of the daily brilliant stuff i gobble up on her her blog.... Moin Edward,

this is probably the first time i think Yves is wrong.

The only reason that our "stimulus plan" isn´t already on track is because the polticians are already campaining for an election that will shake up the previous party landscape…..

There is also no way Germany will come to the rescue of another country. To be honest i´m very surprised that this kind of rumor is even being consired as a "credible" one. Especially when i think of the daily brilliant stuff i gobble up on her her blog….

]]> By: jmf http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2312 jmf Tue, 06 Jan 2009 06:05:54 +0000 http://www.creditwritedowns.com/?p=3278#comment-2312 I expect the FDP & Linke will go to double digit figures...... Merkel was way overrated from the get-go........ This became obvious after she and her party throw almost every principle over board to get the power..... I expect the FDP & Linke will go to double digit figures……

Merkel was way overrated from the get-go……..

This became obvious after she and her party throw almost every principle over board to get the power…..

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2319 Edward Harrison Tue, 06 Jan 2009 04:39:21 +0000 http://www.creditwritedowns.com/?p=3278#comment-2319 I don't know if you heard about Adolf Merckle. He jumped in front of a train after he lost 400 million euros on a VW short squeeze a few months back. Here is the video explaining what happened on CNBC: <a href="http://www.cnbc.com/id/15840232?video=986645160" target="_blank">http://www.cnbc.com/id/15840232?video=986645160</a> Ziemlich tragisch denke ich. I don't know if you heard about Adolf Merckle. He jumped in front of a train after he lost 400 million euros on a VW short squeeze a few months back. Here is the video explaining what happened on CNBC:

http://www.cnbc.com/id/15840232?video=986645160

Ziemlich tragisch denke ich.

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2315 Edward Harrison Tue, 06 Jan 2009 04:11:07 +0000 http://www.creditwritedowns.com/?p=3278#comment-2315 I would agree as well that Germany would never bail out the Austrians except as an advocate through the EU. That is something I could see -- although Germans are already complaining about undue reward from the EU already. Also, you should note that I see the Irish banking sector as equally devastated and expect the EU to need to aid the Irish perhaps before the Austrians. As for Austrian humour and 1938, a Canadian friend mentioned to his Austrian mates that Germans coming to the Austrians with aid would be like "Anchluss Economics." His Austrian friend did not find the joke too amusing. I would agree as well that Germany would never bail out the Austrians except as an advocate through the EU. That is something I could see — although Germans are already complaining about undue reward from the EU already. Also, you should note that I see the Irish banking sector as equally devastated and expect the EU to need to aid the Irish perhaps before the Austrians.

As for Austrian humour and 1938, a Canadian friend mentioned to his Austrian mates that Germans coming to the Austrians with aid would be like "Anchluss Economics." His Austrian friend did not find the joke too amusing.

]]> By: Hubert http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2314 Hubert Tue, 06 Jan 2009 03:58:23 +0000 http://www.creditwritedowns.com/?p=3278#comment-2314 Agree with Jan-Martin. Germans are not planning ahead for the Austrians. Enough upcoming on our plate. Any bailout of the Austrians will have to come from ECB/Brussels and hard to say what they will demand in return? Ownership of the banks? Country guaranteed loans? Even if the GErmans were willing to do it, it would smell like 1938 and would be a hard sell to all parties involved. The Austrians are often kidding somewhat, so there might be some room for misunderstanding. Never forget the 1918-joke of German generals signalling to the Austrians that they consider the situation to be sincere but not hopeless. The Austrians cabled back: "situation here hopeless but not sincere." Agree with Jan-Martin. Germans are not planning ahead for the Austrians. Enough upcoming on our plate. Any bailout of the Austrians will have to come from ECB/Brussels and hard to say what they will demand in return? Ownership of the banks? Country guaranteed loans? Even if the GErmans were willing to do it, it would smell like 1938 and would be a hard sell to all parties involved.

The Austrians are often kidding somewhat, so there might be some room for misunderstanding.
Never forget the 1918-joke of German generals signalling to the Austrians that they consider the situation to be sincere but not hopeless. The Austrians cabled back: "situation here hopeless but not sincere."

]]> By: edwardnh http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2310 edwardnh Tue, 06 Jan 2009 01:45:52 +0000 http://www.creditwritedowns.com/?p=3278#comment-2310 That was my next question. Guido Westerwelle has been living life in the wilderness for some time. Will the FDP clear 5% though and finally be a factor in the next coalition talks? The gran coalition is toast and the SPD and Union know it, hence the posturing already. It is sounding to me a lot like a junior partner choice of Lafontaine's party and the FDP is what people will be using their second vote to clarify. <br /> <br /> If I were the SPD, I would think this puts us in a favorable position, and I would do everything to distance myself from the Union and wink-wink nudge-nudge that we actually like Lafontaine now. Merkel's dragging her feet on stimulus can't be good for the CDU can it? That was my next question. Guido Westerwelle has been living life in the wilderness for some time. Will the FDP clear 5% though and finally be a factor in the next coalition talks? The gran coalition is toast and the SPD and Union know it, hence the posturing already. It is sounding to me a lot like a junior partner choice of Lafontaine&#039;s party and the FDP is what people will be using their second vote to clarify.

If I were the SPD, I would think this puts us in a favorable position, and I would do everything to distance myself from the Union and wink-wink nudge-nudge that we actually like Lafontaine now. Merkel&#039;s dragging her feet on stimulus can&#039;t be good for the CDU can it?

]]> By: jmf http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2308 jmf Tue, 06 Jan 2009 01:32:02 +0000 http://www.creditwritedowns.com/?p=3278#comment-2308 Part 2..... FDP will also be a big big winner...... I´m pretty sure that we will see constant shoutings for a secound bigger stimulus plan as the year marches on, the economy worsens, the election is coming closer and the population is realizing that all the former bailouts & stimulus plans havn´t worked..... One thing is for sure...... There will be enough blogging matrerial on a daily basis....... :-) Part 2…..

FDP will also be a big big winner……

I´m pretty sure that we will see constant shoutings for a secound bigger stimulus plan as the year marches on, the economy worsens, the election is coming closer and the population is realizing that all the former bailouts & stimulus plans havn´t worked…..

One thing is for sure…… There will be enough blogging matrerial on a daily basis……. :-)

]]> By: jmf http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2307 jmf Tue, 06 Jan 2009 01:31:21 +0000 http://www.creditwritedowns.com/?p=3278#comment-2307 Moin again, after the giant banking bailout ( some often forget that we had massive bailouts from several Landesbanken like Weslt LB and Berliner Bank long before the credit crises hit the world ) and the almost non reaction to the absurd Quimonda ( DRAM ) bailout in Sachsen i´m in the unfortunately in the camp that the German version of "Joe Sixpack" will be in favour of the biggest package. They are already somewhat dulled when it comes to the newest multibillion € number...... On the other hand i think that CDU/CSU and SPD will tank in the coming election. We will definitely see some kind of "protest" with big big gains for the "communist" party " Die Linke". De facto the ruling coalition is doing lots of things they were promoting for years....... At least the protest voters don´t go the right parties....... I´m trying to see the positive.... :-) Moin again,

after the giant banking bailout ( some often forget that we had massive bailouts from several Landesbanken like Weslt LB and Berliner Bank long before the credit crises hit the world ) and the almost non reaction to the absurd Quimonda ( DRAM ) bailout in Sachsen i´m in the unfortunately in the camp that the German version of "Joe Sixpack" will be in favour of the biggest package. They are already somewhat dulled when it comes to the newest multibillion € number……

On the other hand i think that CDU/CSU and SPD will tank in the coming election. We will definitely see some kind of "protest" with big big gains for the "communist" party " Die Linke". De facto the ruling coalition is doing lots of things they were promoting for years……. At least the protest voters don´t go the right parties……. I´m trying to see the positive…. :-)

]]> By: edwardnh (Edward Harrison) http://www.creditwritedowns.com/2009/01/quote-of-the-day-austrian-banks.html/comment-page-1#comment-2467 edwardnh (Edward Harrison) Mon, 05 Jan 2009 21:30:12 +0000 http://www.creditwritedowns.com/?p=3278#comment-2467 Quote of the day: Austrian banks: You probably know that I am gearing up for some serious writedowns in Eastern .. http://tinyurl.com/96k67w Quote of the day: Austrian banks: You probably know that I am gearing up for some serious writedowns in Eastern .. http://tinyurl.com/96k67w

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