Gaspar
08/12/11 18:25
Ha respondido al tema Mejor dentro del euro que fuera
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The problem comes from loaning Marks to such people as if they were actually Germans. Unfortunately, the ever-punctilious Germans are now just as punctilious about political correctness as they are about obeying traffic regulations, so they clicked their heels together and started making loans to the unworthy.
While my sympathies are with those industrious, stone-faced, rule-obsessed Germans, their bankers made bad loans at good loan prices. I can sympathize with German frustrations, but I can’t empathize, because the German bankers were schlemiels for making these loans. What kind of dumbkopf can’t tell the difference between a German and an Italian? Since when does the “blank slate” theory of human nature apply to banking?
There is such a thing as “moral hazard” on both ends of the financial process. The “homeowners” who can’t pay their mortgages shouldn’t get free houses. The people who made bad loans to the Greek and Italian (and Portuguese and Spanish) governments should also be punished for their stupidity. For the system to function properly, people making loans must be allowed to fail. As a clever wag noted, “Capitalism without bankruptcy is like Christianity without hell.” I feel sorry for the German taxpayers and retirees who trusted their experts and are on the hook for the bill, but if they want to hang someone, I suggest starting with their bankers and politicians. The Italians are just being Italians.
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http://takimag.com/article/the_problem_with_global_finance/print#ixzz1fxtKjnDk
Saludos