The Chinese, the Dutch, the Germans….this is a US global blight…and by that I mean “disease.” If we are aware of the shoddy and unscrupulous practices of this system…imagine what the rest of the world is going to think.
In late July, IKB abandoned a profit forecast for the 2007-2008 fiscal year of €280 million ($382 million). It said it had “felt the impact of the crisis in the U.S. sub-prime mortgage market,” and said its chief executive, Stefan Ortseifen, had resigned.(CNN MONEY, 9/3/07)
…and I heard on NPR that that the European banks involved are injecting a lot more money into their banking crisis that the US.
