HaHaHaHaHa!
That's the lie of the decade, at the very least, betrayed by just one phrase: loans to Greece Italy.
From Bloomberg.com here:
Noyer, who is France’s chief financial regulator, dismissed reports that foreign companies such as Siemens AG (SIE) have withdrawn an unspecified amount of short-term deposits from Societe Generale, saying he’s confident in the health of France’s lenders.
“It’s a bit of a nonsense to look after every move from one bank to another,” he said. “I’m extremely confident” in French banks because “we know them very well. We know their balance sheets, their risk assessments. We know they have no toxic assets.”
Yes, well, I'll bet he also knows madam, and uses protection.
It's a bit of nonsense alright. Kind of interferes with the rhythm of the good life, which is about to come crashing down around your ears.
Siemens withdrew 500 million euros from a French bank it judged unsafe and placed it on deposit with the European Central Bank, according to widely circulated reports.
But of course that's just the old Germany vs. France thing, right?
What are the French going to say when Deutsche Bank comes crashing down with Soc Gen? And Bank of America, too?
C'est la vie?
U.G.L.Y. You ain't got no alibi, you ugly!
U.G.L.Y. You ain't got no alibi, you ugly!
