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I hope not. Sparkassen and Genossenschaftsbanken tend to be the healthy part of our banking system. But if the great lets default plan succeeds, they can get hit too. For no good reason.
by IM on Sat Feb 5th, 2011 at 08:31:30 AM EST
[ Parent ]
If they get hit it will be because they could not resist investing in what should have been an obvious raging real estate bubble. That is a good reason, regardless of where the bubble occurred.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Feb 5th, 2011 at 06:03:53 PM EST
[ Parent ]

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