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160 German Economists Denounce Summit Results

David1763 Wrote: Jul 08, 2012 8:16 AM

Bankers charged with investing, bet big against long odds and loose big. Maybe they get fired. But the bank goes running to the Government and gets more money to lend out - no punishment and the bank leaders are hero's to the stock holders for "saving the company". No one considers if the bank is too big to manage, or what will as we used to say "put the fear of God" into the supervisors. While I am not advocating chopping Banker's heads off, the punishment has to impress the stock holders that this kind of lax supervision should be punished. The punishment must downwardly affect the value of the shareholders investment. Nothing else will work.

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160 German Economists Denounce Summit Results

A pair of articles translated from German and Spanish further highlights the pressure on German Chancellor Angela Merkel to not give into to further demands by Spain, Italy, and France.

160 German Economists Denounce Summit Results

The San Francisco Gate reports German Economists Denounce Summit Decisions

A group of German economists has denounced decisions made during last week's European Union summit, arguing Thursday that they risk increasing the exposure of taxpayers, retirees and savers to the debts of struggling banks.

In an open letter published by the daily Frankfurter Allgemeine Zeitung, a group of 160 economists wrote that German Chancellor Angela Merkel...

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