Just FYI, it's all going to hell in a handbasket here too. It's just been slightly less spectacular. One serious downside here is that the European equivalents of FDIC insurance are not nearly as good--the maximum insured is much lower and you're insured for less than the full value.
Multiple banks have had to be bailed out (one of the bailouts wasn't big enough and they've had to go back for more) and lots of businesses are closing. Now there's a 50 billion pound bailout that the Brits will announce tomorrow (Only 50 billion? Child's play!)
They've also just reported that customers with Iceland's "icesaver" accounts have had their assets "frozen."
They've also just reported that customers with Iceland's "icesaver" accounts have had their assets "frozen."
ReplyDeletei LOVE it.