Street com they say hit from all sides European Bank stocks swoon to 1988 low leaks about Money Laundering a resurgent pandemic china risks exposure to turkeys financial crisis all in a negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79. 00 set in march the last time before march that the index was below todays level was february of 1988 during the sell off that followed black monday in october 1907 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right. I mean 1988 and the connections in 1907 black monday the crash of that year its very important and because the solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Te
Studded with prominent names from United States President Donald Trump on one side of the atlantic to germanys deutsche of bunk on the other it seems to have complied with rules to report suspicious transactions but took few steps to rein them in our topic Money Laundering all guards terrorists how corrupt are the banks. Welcome to to the point its a pleasure to introduce our guests Daniel Drucker is editor in chief of buzz feed news germany and he says the suspicious activity records give banks a free pass to keep moving dirty money then collect the fees. And its a pleasure to welcome our few carnatic to the program hes chief europe correspondent for politico and he believes this councils are just the latest indication that germanys Banking Sector is neither financially nor culturally sound. And great to have with us as well then to lena fun period oh she works for the british economist and she thinks justice do much of it was finally starting to recover the revelations related to its
The solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Team or that working group on finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks so they did exactly what they were doing but on a bigger scale and then we have of course another major move down in 1989 we had a bomb crash more or less 9093 we had the dot com crash in 2000 we had the 2008 subprime crash and each one of these crashes were caused by the exact same thing over indebtedness too much leverage and no accountability no than foresman of regulations by the f. C. C. And then send in others and each and every time the policy from the Central Banks is to expand credit line and say do it again but do it bigger and now in 2020 we. Of now some more thing happening all over again its entirely predictable entirely preventable but as restraine
Studded with prominent names from United States President Donald Trump on one side of the atlantic to germanys deutsche of buck on the other it seems to have complied with rules to report suspicious transactions but took few steps to rein them in our topic Money Laundering all of arks terrorists how corrupt are the banks. Going to. Come up. Welcome to to the point its a pleasure to introduce our guests daniel director is editor in chief of buzz feed news germany and he says the suspicious activity records give banks a free pass to keep moving dirty money can collect the fees. And. A pleasure to welcome Matthew Carney chik to the program hes chief europe correspondent for politico and he believes these scandals are just the latest indication that germanys Banking Sector is neither financially nor culturally sound. And great to have with us as well then to lead a fun creative she works for the british economist and she thinks just as doing was finally starting to recover the revelations
Of the atlantic to germanys deutsche of bunk on the other it seems to have complied with rules to report suspicious transactions but took few steps to rein them in our topic Money Laundering all of arks terrorists how corrupt are the banks. To. Come up. Welcome to to the point its a pleasure to introduce our guests Daniel Drucker is editor in chief of buzz feed news germany and he says the suspicious activity records give banks a free pass to keep moving dirty money then collect the fees. And its a pleasure to welcome our few carnatic to the program hes chief europe correspondent for politico and he believes this councils are just the latest indication that. Germanys Banking Sector is neither financially nor culturally sound. And great to have with us as well then to lead a fun creative she works for the british economist and she thinks justice do it was finally starting to recover the revelations related to its involvement in Money Laundering in the finance and files are a huge setbac