I cannot believe this is not getting a lot of attention... a big bank got bailed...in. Learn more here
https://emancipatedhuman.com/emancipated-radio-banco-popular-bail/
In this episode, Luis talks about how The free market deals with a failing bank. Listen to this piece and if you like it please share it.
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Why is this post getting flagged?
O.o
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is it? where?
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I don't get it
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ahhh i see. why!!!!
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@abit is a whale who flag some posts for increase the global reward of all the others. There is a big debate about flagging.
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Resteemed, people need to hear about what is happening.
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I've got a video going up on this today. Stay tuned for a spammed notifications feed on Facebook! :P
Listening to the podcast now :)
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Gotta hold as little of your cash in the bank as possible! Buy Crypto and Silver and store cash in the mattress!
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Keep Sharing the Conversations that are worth having!
Steem On, The dream is Live,
You have a Golden Ticket
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@emancipatedhuman thanks for pointng this out...we your steem family member will help in spreading the news and I also upvoted and following you...thanks for sharing.
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Nice YANTRA!
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Following you good sir @emancipatedhuman per Jeff Berwick. Trying to become a millionaire by acting like one! Looking forward to catching up on your posts
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I think Luis is missing the point here by arguing this is actually a good thing cos the free market has come up with solution. Banco Popular has a history of being irresponsible with its customers money which is why the bank was insolvent and requiring intervention in the first place. All this "bail in" has done is shift the risk onto Santander. All that bad debt hasn't miraculously disappeared. If I was a Santander customer or shareholder, I'd be very concerned about this move since the deal was rushed through in 2 days with no due diligence.
I encourage you to check out Simon Black's review of this event: http://bit.ly/2r3hk9y .
Given the risk to Santander - which everyone seems to be ignoring - I also find it amazing that it's share price rose on the news. This FT article provides a good summary of the deal http://on.ft.com/2r9VTCW
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i dont think they would go blindly into buying a lot of debt if they didnt know they could make money on it. to me, they just bought a bunch more buildings where santander can bank from and millions of customers.
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Maybe. But I fail to see how they could have done any proper due diligence on this deal given the timing of it. Time will tell I suppose.
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Sounds like back-room, handshake deals with someone who would "guarantee" to cover their losses. (cough... government!) No sane and responsible company would take on that much risk without someone covering the downside (or threatening them). Oh wait... financial industry... sane and responsible, I see the disconnect now!
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@bhp Exactly. It's not like banks are known for being trustworthy and responsible.
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well, you can tell when your competitor is not doing well and you can plan ahead on absorbing them and calculating the risk. they are banks, for gods sake. that's what they do for a living hehe.
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cover up to avoid the panic.. only prolongs the pain and amplifies.
interesting times ahead.
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Amazing news buddy
Lucky man.
I have followed you.
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The only money I have in the banks these days is in the form of an overdraft. Diversification is key in these uncertain times.
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@@ -21,16 +21,18 @@
reading
+ab
out the
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This is exactly why crypto isn't in a bubble... who wants to stay in the corrupt fiat system???
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In meltdown 2008, people lose their homes, but big banks get bailed and now they are bigger than ever. This is criminal, what they are doing.
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