Author Topic: Italys Oldest Bank in Deep Trouble (Read 1199 times)

Belloc · « **on:** September 05, 2012, 10:46:50 AM »

http://www.washingtonpost.com/world/europe/worlds-oldest-bank-meets-a-formidable-foe/2012/09/01/c42e85b6-f1dd-11e1-adc6-87dfa8eff430_story.html?hpid=z5

“Monte dei Paschi was lending money when Christopher Columbus was still dreaming of the shortest route from home to the shipyard, not India.”

“Analysts and the bank’s current management say a long-prudent institution — based in the same building since 1472 — got caught up in the froth of the cheap-credit years before the crash and then made poor decisions about how to recover.”

Loriann · « **Reply #1 on:** September 05, 2012, 05:45:17 PM »

Quote from: Belloc

http://www.washingtonpost.com/world/europe/worlds-oldest-bank-meets-a-formidable-foe/2012/09/01/c42e85b6-f1dd-11e1-adc6-87dfa8eff430_story.html?hpid=z5

“Monte dei Paschi was lending money when Christopher Columbus was still dreaming of the shortest route from home to the shipyard, not India.”

“Analysts and the bank’s current management say a long-prudent institution — based in the same building since 1472 — got caught up in the froth of the cheap-credit years before the crash and then made poor decisions about how to recover.”

They loaned it to the Italian government, lol.

Belloc · « **Reply #2 on:** September 06, 2012, 07:30:39 AM »

Quote from: Loriann

Quote from: Belloc
http://www.washingtonpost.com/world/europe/worlds-oldest-bank-meets-a-formidable-foe/2012/09/01/c42e85b6-f1dd-11e1-adc6-87dfa8eff430_story.html?hpid=z5

“Monte dei Paschi was lending money when Christopher Columbus was still dreaming of the shortest route from home to the shipyard, not India.”

“Analysts and the bank’s current management say a long-prudent institution — based in the same building since 1472 — got caught up in the froth of the cheap-credit years before the crash and then made poor decisions about how to recover.”

They loaned it to the Italian government, lol.

Definately poor investment, has been for , what,40 years now?

Loriann · « **Reply #3 on:** September 06, 2012, 08:16:00 AM »

Pay close attention...America is about to turn that corner.

Belloc · « **Reply #4 on:** September 06, 2012, 08:29:58 AM »

definately.....and I keep hitting walls to try to make investements out of USA and in saner climates...including ability to move there......want to get the heck off this Titanic.....wish I knew of some way to work from home......etc...

Loriann · « **Reply #5 on:** September 06, 2012, 08:54:17 AM »

Sadly the just about the entire world is practicing poor stewardship, and spending what they do not have. Look at the world-wide ripples caused by tiny little Greece, which has less population than many US states. Pretty sure the Tsunami is coming.

Belloc · « **Reply #6 on:** September 06, 2012, 09:01:13 AM »

Quote from: Loriann

Sadly the just about the entire world is practicing poor stewardship, and spending what they do not have. Look at the world-wide ripples caused by tiny little Greece, which has less population than many US states. Pretty sure the Tsunami is coming.

was hoping to at least move somewhere more Catholic, less populated and less spy-central........perhaps, would be less problematic.....perhaps, less devastated......that and have to say, just plain sick of this culture......

I know this is not charitable, but I go out to eat and look around and think "these peopel are sheeple and asleep, why do I wantto risk my hide and time defending them, no worth it-pray yes, suffer, no".....esp when the population is waddling to the 5th helping at the buffet and locked into the craziness.........

again, I know, not charitable, but what is a forum, if not a chance to share and occ :really-mad2: :alcohol: :cussing: (like Hobbles rant thread :smile: )

Cuthbert · « **Reply #7 on:** September 07, 2012, 02:34:38 PM »

I quite agree with your sentiments Belloc. There's nothing that can be done for them, one must simply leave them to their fate unfortunately. Most of them are not simply stupid, that wouldn't be so bad, they are wilfully, insolently & very often maliciously stupid. They revel in their stupidity, to be abysmally ignorant of just about everything, to not know what planet they're living on is what they apparently consider to be the most praiseworthy aspect of their personalities, their glory so to speak.

I don't hate them or wish them ill, I pray for their conversion & salvation, but as far as getting them to see things as they really are, that is utterly hopeless, barring a miracle of God's grace. I don't think it's entirely their fault, when one considers the fluoridated municipal water supplies (who knows what else they put into the water), the monosodium glutamate, genetically modified organisms in the food now, the high fructose corn syrup &c. in the food, the effects of their incessant television watching (the most effective mind-control device ever invented) & on & on, ad absurdum, ad nauseam.

If a man dares tell them the truth about things they very often become angry. They don't know & they don't want to know. They prefer to live as legends in their own minds, stars of their own television programmes, everything's all right, nothing bad can ever happen...............even as they're marched into a re-education camp, they'll still deny reality. They'll be just like many inmates of the Soviet camps who steadfastly maintained that Stalin could do no wrong, & if he were to find out about the injustice inflicted on them, he would be sure to order them to be released, & would punish the local commissar who had arrested them.

Belloc · « **Reply #8 on:** September 07, 2012, 02:39:54 PM »

Sad, I am 0% Italian, but as a European descendant and Catholic, sad to see what is happening to Italy and Europe.....and, of course,us...watched some of +WIlliamson videos last night, both encouraging and and :sad: