Dana Summers by Dana Summers

Dana Summers

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  1. MortyForTyrant

    MortyForTyrant said, about 1 year ago

    Deutsche Bank alone could swallow Cyprus wholesale, every man, woman, child, building, business and bank in one giant gulp. I am not worried about the Eurozone. I’m just concerned about the nasty, nasty comments I would read here if they actually would do that…

  2. M Ster

    M Ster said, about 1 year ago

    The Cyprus issue is being blown way out of proportion. I read the following from a financial blogger earlier today:

    • Cyprus has a population of 1.1 million
    • There are 370,000 bank accounts
    • Of those, 360,000 have less 100,000 Euro, the limit on deposit insurance.
    • The 370,000 bank accounts have total deposits of 68 billion Euros.
    • The 10,000 with more than 100,000 Euros make up 55% of the deposits, or 38 of the 68 billion.
    • Many of those 10,000 accounts are held by Russians or other non-Cypriots that are seeking tax shelters.
      *
      So maybe it’s not such a bad outcome for those 10,000 account holders to pay for the banks’ losses.

  3. Ionizer

    Ionizer said, about 1 year ago

    @M Ster

    “So maybe it’s not such a bad outcome for those 10,000 account holders to pay for the banks’ losses.”

    At least you admit you’re socialist at heart, and don’t worry a lot about legal procedures.

    “Hey, the bad guys are hiding money we allege is ill-gotten. We can’t convict them of any crimes, so let’s just make Cyprus take their money. If some innocent people get hurt, well, them’s the breaks. After all, the Greater Good™ is being served.”

  4. M Ster

    M Ster said, about 1 year ago

    @Ionizer

    There’s a huge difference between being a socialist and being against money laundering and tax evasion.

    I think your comment says a lot about you.

  5. Ionizer

    Ionizer said, about 1 year ago

    @M Ster

    “There’s a huge difference between being a socialist and being against money laundering and tax evasion.

    I think your comment says a lot about you.”

    Actually, yours says more about you.

    The money laundering is alleged and assumed. I’ve looked for stories about proven crimes, but haven’t found any in the 10-12 I’ve read from various business sites. You’re in favor of punishing someone without a trial and conviction.

    Forcing another country to punish people that haven’t been tried or convicted in your country is creative, to say the least. But you like it, so it must be legal.

    Punishing innocent people along with the assumed guilty parties isn’t kosher, but you probably figure they didn’t deserve that much money anyway.

    You’re 0 for 3.

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