In the language of the financial world, well-known companies, often enough awarded the highest credit ratings by rating agencies, that crash into bankruptcy overnight, such as the U.S. telecommunications company WorldCom in 2002 (Deutsche Bank alone had to write off a three-digit million amount on its investment in WorldCom) or the year before, the Texas energy company Enron. – In 2007, in the course of the subprime crisis, Sachsen LB (under public law) and West LB floundered and had to be bailed out with billions of euros (from taxpayers‘ money). – Financial products that were initially considered excellent investments but which later revealed to be very risky. These originally included all EUR-denominated government bonds issued by EMU members. At the beginning of March 2012, the holders of Greek government bonds were „voluntarily compelled“ to waive half of their claims. – The term „fallen angels“ originally derives from theology and describes those angels who rebelled against God and lost His grace. – See Anderson scandal, balance sheet scandal, corporate governance, London proceedings, Verbreifungsstruktur. – Cf. ECB Monthly Report of May 2005, p. 94 f., ECB Monthly Bulletin of November 2007, pp. 18 et seq. (effects of the subprime crisis; overviews), ECB Monthly Bulletin of December 2007, pp. 32 et seq. (liquidity management through the minimum reserve policy during the subprime crisis), pp. 45 et seq. (Survey on lending in connection with the subprime crisis; overviews), ECB Monthly Report of January 2008, p. 16 ff. (ECB liquidity assistance), BaFin Annual Report 2007, p. 124 (takeover of loss-making Sachsen LB by LBBW), BaFin Annual Report 2008, p. 123 (losses of Landesbanken).

Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

Kommentare geschlossen.