Schaeuble was informed for weeks about 55 bio error

Incredible with which superficial dedication Schaeuble looked for responsible ones. And now: Schaeubles scheme of hiding the scandal comes to light. Schaeuble is not more than a cheap actor. Insane how Schaeuble pulls the entire matter into dirt.

hi I just wanted to clear sth up from the weekend:

Cash&Chaos Corner: Germany: HRE got 55 bio € more than thought

Happy Banking Crisis! It's not only about kicking 700 or 800 bio Euros out of the window! No! It works the other way around as well. Mysteriously, the meanwhile nationalized Hypo Real estate was the vault of an unknown 55 bio €. Where exactly is this vault? Don't panic, it's more or less an imaginary vault. The balance sheets got misinterpreted and Hypo Real Estate is richer than thought. What drove certain dispicable German communist to the idea, that someone might have manipulated those balance sheets to drive a bargain of 55 bio euros. Very ugly. Nonetheless, super-cop Schaeuble is now looking for the responsible balance sheetzer.

Now DWD complained:

I am sorry, You might want to rewrite that for those of us who are not familiar with the situation.

I read it three times and still don't get it.



my answer:
Lately, the EFSF was founded. It is merely a system that provides financial guarantees within the EU. It amounts to guarantees of about 1 trillion or maybe 2 trillion euros for state bonds. So if Greece says, for example, we won't repay the bond, id est after 10 years depending on the respective bond for example, the EFSF will pay it. Germany has a stake of 211bio euros in this shield, so if Greece amasses 5 bio in the red and the EFSF got a net shield of 1 trillion, Germany will pay 1 fifth id est 1 bio.

Then again, there was a meanwhile nationalized German bank, called Hypo real estate, that took great effort in dealing southern European papers. There was again a special branch, called Hypo Alpes Adria , that was again specialized in doing the really bad stuff. They had enormous amounts of junk papers out of this region.

Now when this bank went bankrupt the current conservative german govt. did the same as Bush, they didnt have them go bankrupt but they of course paid. It is estimated that this bank had an internal drop in worth of 800 bio euros within 4 years. After being nationalized it was said that the bank was still worth 200 to 300bio,at least maybe, what was a joke in comparison to what it was worth before.

Now suddenly, the organization that is handling the remains of this bank, found that it had miscalculated and that Germany as such, simply and straight, is 55 bio euros richer than thought because value decrease wasn't this heavy, because, shortening what happened, the administration confused plus and minus.

SO, the joke is , you dont always put money into bankrupt banks. Sometimes they are even giving. See those 55 bio.