European Tribune - Comments - Saturday Open Thread

Saturday Open Thread | 48 comments (48 topical, 0 editorial, 0 hidden)

Get out your hankies everyone (4.00 / 5)

It's cryin' time again:

Deutschlands Superreiche - Ein Krisenminus von 30 Prozent - Finanzen - sueddeutsche.de		Germany's superrich down 30 percent in crisis - Finance
Joachim Paul Schäfer, einer der dienstältesten Vermögensbetreuer für reiche Privatleute, schätzt die Verluste der reichsten deutschen Familien seit Sommer 2007 auf "durchschnittlich 30 Prozent", wie die WirtschaftsWoche berichtet.		Joachim Paul Schäfer, one of the most experienced asset managers for high-net-worth individuals, estimates the losses of Germany's richest families at "an average of 30 percent" since summer 2007, Wirtschaftswoche reports.
Allein mit ihren börsennotierten Großbeteiligungen hätten die 20 reichsten deutschen Familien in der Krise rund 40 Milliarden Euro verloren.		Germany's 20 richest families lost around 40 billion euros on their major shareholdings in listed companies alone.
"Damit ist schon jetzt klar, dass die aktuelle Krise viel tiefere Wunden in großen Familienvermögen hinterlassen wird, als die letzten vier, fünf Rezessionen zusammen", sagte Schäfer dem Magazin und fügte hinzu: "Manche seit Generationen gewachsenen Vermögen sind ähnlich bedroht wie zuletzt in der Hyperinflation der 20er Jahre oder in der Depression."		"Thus it is already clear that the current crisis is leaving much deeper wounds in large family fortunes than the last four, five recessions put together," Schäfer told the magazine and added, "Some fortunes that have grown over generations are threatened in a manner not seen since the hyperinflation of the 1920s or the depression."

Does anyone want to join me in taking up a collection?

(Seriously - if this site had an obscenity policy this post would be way out of bounds.)

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt ät gmail dotcom) on Sat Jan 3rd, 2009 at 03:19:31 PM EST

Re: Get out your hankies everyone (4.00 / 4)

And with that, good night.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt ät gmail dotcom) on Sat Jan 3rd, 2009 at 03:24:44 PM EST
[ Parent ]

Re: Get out your hankies everyone (4.00 / 5)

I'm peeling an onion in order to express the appropriate emotion as I type

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sat Jan 3rd, 2009 at 03:29:36 PM EST
[ Parent ]

Re: Get out your hankies everyone (none / 1)

I can hear you laughing from here.

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Sat Jan 3rd, 2009 at 09:08:38 PM EST
[ Parent ]

Saturday Open Thread | 48 comments (48 topical, 0 editorial, 0 hidden)

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