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AktenA world apart..
The end of economic expertise
Köhler Blues
The beginning of economic preferences?
God protect our country
1,2,3 ballots for Merkels choice
The first cracks in Merkels armor show as it takes several runs to elect her choice of Bundespresident. 44 members of her coalition denied their votes for Wulff.
After the renowned economic and financial expert Horst Köhler jumped the railing on the ever faster sinking Merkelship MS Deutschland the gouverning partys are in dire need of a fast replacement.
The installment of the highest official position in Germany will this time see a politically compatibel president of Germany.
It was a close call, von der Leyen or her mentor Wulff.
The favored choice seemed to be Ursula von der Leyen, as minister of family she initiated a campaign together with good friends of the Springer Press to install stop signs for pornographic child sites on the internet instead of removing them. The biggest online petition in German history, concerned with the censorship of other sites, ended this nonsense and earned her the name of Zensursula.
Since the beginning of Merkels new term last year Zensursula has been responsible for the Federal Ministry of Labour and Social Affairs, efficently censoring away millions of unemployed in the statistics of the German authorities for labour.
The mother of 7 children seemed to be the ideal candidate to censor the billions of losses due to Merkels national and international political zigzag course in economic affairs.
Probably because of beginning campaigns on the internet Merkel and her troops quickly detoured and chose her mentor, VW minister president Christian Wulff. VW already helped former chancellor Gerhard Schröders rise to power, the kingmakers from Wolfsburg strike once again. The only difference that now Germanys economic future is on the line so Merkel can no longer afford an independent president who could effect new laws contributing further billions of taxpayer Euros to German banking lobbyists !
From Bug to Bellevue
Europes trillionaires
Germany's CDU and FDP vote in favor of a near trillion dollar tbtf eurozone rescue package on Friday, May 21st.
319 German politicians approved the package in record time. Germany is the first european nation to ratify the still to be incorporated Luxemburg based special purpose vehicle.
The opposition fears the same kind of blackout as arranged with the 480 bn Euro bank bailout SoFFin, the end of parliamentary control in Germany!
One week the saving of Greece with 20 bn, the next week 148 bn for the Euro, Germanys taxpayers are pretty worried how many further gagazillion bailouts these politicians will put on the line to save near worthless stocks and bank! Who will be held accountable when the heat turns on and the big losses accumalate?
Empty promises from politicians certainly don´t pay the bills! The taxpayers are on the hook!
The 148 bn Euro smile..
New 750 bn Euro/creditor saving for Ackermann & Co
Merkel alone at home in Europe
BaFin prohibits uncovered short-selling transactions and uncovered CDS in government bonds of euro zone
The Federal Financial Supervisory Authority (BaFin) on Tuesday temporarily prohibited uncovered short sales of debt securities of euro zone countries admitted on a domestic exchange to trading on the regulated market. It also temporarily prohibited credit default swaps (CDS) in which the reference liability is at least also a liability of a euro zone country and is not used to hedge default risks (uncovered CDS).
Moreover, BaFin prohibited uncovered short-selling transactions in the shares of the following companies from the financial sector:
* AAREAL BANK AG
* ALLIANZ SE
* COMMERZBANK AG
* DEUTSCHE BANK AG
* DEUTSCHE BÖRSE AG
* DEUTSCHE POSTBANK AG
* GENERALI Deutschland HOLDING AG
* HANNOVER RÜCKVERSICHERUNG AG
* MLP AG
* MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT AG
These prohibitions will apply from 19 May 2010, 00.00 hrs., to 31 March 2011, 24.00 hrs, and will be reviewed on an ongoing basis.
BaFin justified this move by the extraordinary volatility of debt securities of countries from the euro zone. Moreover, the spreads of credit default swaps on credit default risks of several countries of the euro zone had widened considerably. In this context, massive short selling of the debt securities concerned and the conclusion of uncovered CDS on credit default risks of euro zone countries were resulting in further excessive price movements which could result in further serious disadvantages for the financial market and could jeopardise the stability of the financial system as a whole.
In view of these circumstances, BaFin once again prohibited uncovered short-selling transactions in the shares of selected companies from the financial sector.
Bonn/Frankfurt a.M.,
18. May 2010
General Decrees
* General Decree of the Federal Financial Supervisory Authority (BaFin) on the prohibition on contracting a credit derivative or entering into a transaction on the same if a no more than insignificant reduction of the protection buyer’s risk is achieved thereby, of 18 May 2010
* General Decree of the Federal Financial Supervisory Authority (BaFin) on the prohibition of uncovered short-selling transac-tions in debt securities of Member States of the EU whose legal currency is the euro of 18 May 2010
* General Decree of the Federal Financial Supervisory Authority (BaFin) on the prohibition of uncovered short-selling transactions in certain shares of 18 May 2010
Official notice from the Bafin to show the folks in Germany that someone is doing something (anything, whatever, however in the totally distressed Bundestag). The probability that this political fogging will fool anyone while billions of Euro are transferred to Deutsche Bank and Allianz´s Greece, Spain, Portugal and Ireland investments through Europes Euro saving package, to keep them alive and in some kind of rating, is getting smaller by the hour.
Merkel debt
Taxpayer bn peaks
A short rise before the deep, deep fall...
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