07/10/2013

do some social taxfraud research with the icji offshoredatabase and Google

They have released 120.000 names and adresses of people and firms that are mentioned in the enormous database of mails and accounts and transactions that was leaked to them (and that they are still keeping as it is theirs to keep and not for the justice departements to use to prosecute - would they do the same if it was childporn ? )

now you can help them a bit - wherever you live

first you do a search in something that may interest you (people or firms that are located in your country for example)

http://offshoreleaks.icij.org/search

than you go to Google and you type the information (name or addresses between "  "  in Google) and you start profiling - from there you will see who the person is or what the firms does and what its relations are and what others have already published

you can send that information to the icij (if they didn't publish it already) or post it elsewhere

meanwhile I still think that database should be made available (even by - technical accident :) )

I believe more in the wikileaks method even if there are some legal and other problems that will come with them. It doesn't mean that every person in the database is a criminal in the same sense because some people seem to have inherited sleeping empty accounts or had forgotten about it

another consequence of this is that those fraudster will never feel themselves as safe as before (except if those firms start investing in some real security)

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07/05/2013

china, the Euro, high-tech and free trade

according to stratfor China wanted that Europe became its open backyard for its products in exchange for the billions they would spend buying European bonds

it is unclear how the discussions about the solar energytechnology and the doubts about the chinese telecommunication hardware that are now rising will influence this 'secret deal' if ever this was one and if there was one how the international markets would react if this deal would not be honored in the future

----------------------------------------

An e-mail from Startfor intelligence, dated November 3rd 2011 and published by Wikileaks as part of the Global Intelligence Files, reveals interesting inside information regarding China’s position on helping solve the financial crisis in the Eurozone. The source providing the intelligence, a Dogan News Agency Econ correspondent in Beijing, told Stratfor that the Chinese would negotiate two main conditions in order to help Europe with a favorable loan:

 

Source says China’s conditions to lend money to Europe are becoming
clearer. They have two main conditions: Remove the restrictions on
high-tech exports and recognize free-market status to China. Many things
may change in the world if the Europeans accept these conditions.
http://whistle.is/?p=550

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04/06/2013

why offshoreleaks is an amoral mediapropaganda operation

okay let's cut the bullshit

http://www.icij.org/blog/2013/04/why-we-will-not-turn-over-offshore-files-government-agencies

if you have information about illegal operations than you have the duty as a citizen to hand that information over to the police or the authorities. Point final. Especially if you have information about a taxfraud operation during one of the worst financial and economic crisises that have stolen the jobs, incomes and houses from millions of people around the world while the rich and superrich were helped by the banks who were saved with the taxmoney that otherwise would have been used for our schools, jobs and social security to hide their income as much as possible.

where are your morals

you have none. You say that you have never handed access to files or files over to government agencies and that you will stand by that policy.

It aren't even your files. You have laid your hands on a harddisk from former employees who have stolen those files from their former employer. You are a datathief in the strictest sense of this definition so don't start all your legal wringing and hocus-pocus. You are a pirate using stolen data and now you want to tell who has access to it and who doesn't ?

The other reason you say is because you say that the information is very difficult to interpret. Bullshit. You mean that some journalist who works some hours a week on such subjects on limited information and sources is better informed than a tax office and the justice departments and their international cooperation and all the legal resources they have. Who do you think you are ? Do you really think that the tax authorities and justice departments of today are just the civil servants of the 1970's without any computers ?

no, you are just a mediamarketingcampaign and you will only be that. Just as you say in your posting, you will be publishing articles for the rest of 2013 and 2014 while the offenders will have all the time to wipe out all the other evidence that will be needed to proof what is to found in 'stolen' evidence of which you even can't be sure that it will be hold up in court (and we are talking about millions, so the lawyers will use every trick in the book starting with attacking the evidence to get a trial suspended).

In fact the longer you are waiting with publishing the lists of names of persons and firms that are involved in this taxfraud scheme the more difficult it will become for the tax authorities and justice departments to find other evidence so that the other stolen information has not that much importance in court. Time is running out and you are only helping taxfraud, every day a little more and for what

and all that for a few articles in a few newspapers that will make less headlines over time (very fast in fact) because there is other more important news, because it is only of local interest or because the crisiscommunication strategies of the banks will get into full motion

This is journalistic despotism : all for the people, nothing by the people and the journalists think that they are the enlighted kings between all those stupid readers and civil servants they try to educate and help and who should be so grateful that they are still willing to do this for their benefit

if you were doing this for our benefit you would have given access to the tax authorities and published information, your articles are interesting but if the crimemasters aren't prosecuted, it won't change a thing because it won't bring one dime back to the state

to bring some of the money back you need a trial and to get a trial you need information and for that information you need access so you can start an investigation but there will be no investigation and no trial and no punishments because you are not giving access

so you are - by not collaborating - aiding a crime (legally that is)

and indirectly you are giving the state not the necessary resources and information to go after these schemes to get more taxmoney in so they have less to take on the simple people - like you an me (we even won't have money anymore to buy your newspapers with all your great articles about offshoreleaks :))

this obstruction of justice means that I will not stand in the way of any justice department or (legal or other) hackers in the way to get the data themselves

the best part of it is - nobody would blame you for being hacked, leaked and dumped and it wouldn't be your fault :)

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04/05/2013

offshoreleaks - what information should be published soon

there is a discussion going on online and within the organisation that is responsable for the information about what should be the next step

some in that discussion are wanting to keep the information a closed playground for some priviliged journalists while others find that it should be opened up

there are different ways of opening up that information

* giving access to the tax services of the world but in some jurisdictions this will be difficult as they can only work with information they have received, not information that they are going to search themselves on the web

* giving access to leakportals like wikileaks and others around the world so they can extract the information and documents they want to leak and publish - so not only the public but also the tax offices can use

* publish the names of the persons and all the firms involved - these listings will already give the tax offices an indication to open investigation and to look at all the other information they have about these firms and persons

* publish all the publishable information like the formats pdf, word, txt, xls

* make a downloadable version of the database

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offshoreleaks the anti-wikileaks attitude of LeSoir and our tax services

when I said yesterday that i prefered the way wikileaks was publishing information i couldn't have foreseen the way Lesoir would make it nearly impossible for our tax services to prosecute the taxdodgers

* Lesoir said they would not publish the list of names of belgians who are dodging taxes while everybody else here is getting less and paying more to keep our essential state services and social security running

* Lesoir said that they wouldn't hand over that information to the tax services because they were no 'snitches' protecting the illegal activities of that scum

* Lesoir said that even if the police and tax service tried to find the information on their computers or in their offices it would be very difficult because of Belgian laws protecting journalists and the fact that the servers with the information are located in other countries

besides Lesoir said that they were the anti-wikileaks and that they would publish information after real journalistic work and not before and that people would not expect from Lesoir to publish listings and more information

but who will be interested in that information that is already 3 years old one year later, what will be the relevancy of that information if it ain't available to the tax services

if the sole goal was that some newspapers could mount a marketing campaign and publish some articles - than this is the same experience as Wikileaks had with the cableleaks - that is that journalists and newspapers take a lot of time to do not so very much and that their attentionspan is very limited

the result is that wikileaks ended up by deciding to publish the information - all the information so everybody could use it

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04/04/2013

offshoreleaks 17h Le soir will publish lists and facts

on a special website

lesoir17h.be

they have been part of the international investigative network (no flemish newspaper ? there are other things to write about than Dewever :) )

and the belgians are playing an important role in these network (especially in Singapoure)

the world will change (a little bit again) after 17h

and some things and people will never be seen again

meanwhile some people will be very nervous

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offshore databreach : the first alternative wikileaks breach

this is the first time that the wikileaks method has done something more than accidential in another format and organisation (when wikileaks was brought to a standstill 2 years ago by the coordinated actions of some commercial and governmental authorities using every means to their disposal several alternatives were presented and even if they had some leaks and breaches and documents that were interesting none were as convincing as wikileaks an sich)

now an international consortium of investigative journalists - who was working on several subjects with several limited data and information - has gotten hold 13 months ago on a databreach of 2.5 million documents and emails in 260 GB about nearly the whole underworld of offshore banking in 170 countries and more than 30.000 people and has been working with newspapers and investigative journalists and specialised anti-offshoregroups around the world for treating, searching and linking and interpreting the information so it would be ready for a global D-DAY (or P-Day publication day)

they have also been able to use the best search and link tools to go throught this flat data - giving the journalists the needed information, links and data to interpret and verify

this will be an enormous 'game-changer'  nothing will be the same anymore

the servers are overloaded

http://www.icij.org/offshore/secret-files-expose-offshore...

the most important international headlines

http://www.icij.org/offshore

and for the people in Antwerp these are the real Indians

http://m.financialexpress.com/news/inside-the-global-offs...

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02/07/2013

more anonymous than Egold and bitcoin is real gold (since centuries) dutch

Bijna 1,2 miljard euro aan verdachte transacties in de goudsector kreeg de antiwitwascel vorig jaar doorgeseind.

 

Dat is een record, waardoor het totaalbedrag van de opgespoorde witwasdossiers bij die Cel voor Financiële Informatieverwerking (CFI) minstens vier keer hoger ligt dan in 2011.

 

Uit cijfers van minister van Financiën Steven Vanackere (CD&V) blijkt namelijk dat de cel tussen januari en oktober vorig jaar 2,29 miljard euro frauduleus geld op het spoor kwam.

 

‘Die stijging is vooral toe te schrijven aan de toenemende interesse van criminelen in goud', zegt CFI-topman Jean-Claude Delepière aan De Standaard .

 

‘De grote schaal waarop goud en andere edelmetalen in de onderwereld over de toonbank gaan, is op zijn minst verontrustend te noemen.'

 

Delepière spreekt van een tiental zware fraudedossiers, die zich vooral situeren in het Brusselse en Antwerpse goudmilieu.
http://www.standaard.be/artikel/detail.aspx?artikelid=DMF...

the real criminal money is still not virtual

it is real criminal money for real crime

not that sexy but much more real

ever heard of cybercrime of 2.29 billion EURO found in two cities during 10 months ?  billion not million, two cities and not the world or a country, real money and no estimates and 10 months of investigations not years

even 10 cybercrime operations together never reach that amount during that time and are discovered

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02/05/2013

de antiwitwaswet op cdrom (tip)

Graag had ik even het volgende voorgesteld. Ik heb een anti-witwasopleiding voor meldingsplichtigen gemaakt op CD-rom.

Omdat alle meldingsplichtigen, ook verplicht zijn om hun medewerkers een anti-witwasopleiding te laten volgen, is deze methode interessant om hun medewerkers dit op hun werkplaats of thuis te laten volgen op de PC.

Ik heb deze opleiding gemaakt in samenwerking met de firma TELESEMINAR (http://www.teleseminar.be/index.aspx) klik op de link.


Zie website : www.witwaswet.be (klik op de link) - MET KENNISTEST.

CD 1   -   De witwaswet: wettelijk en institutioneel kader
CD  2  -   De witwaswet: a-typische verrichtingen herkennen 

Ook beschikbaar in het Frans : www.loiblanchiment.be (klik op de link).

CD-1 - La loi anti-blanchiment : cadre légal et institutionnel -
CD-2 - La loi anti-blanchiment : reconnaître les opérations atypiques

Met vriendelijke groeten.

Geert DELRUE

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01/17/2013

2GB confidential documents about armenian corrupt (?) Socar (oil) trading firm and BNPparisbas and swift online

Well the Azerbaijan Mafia killed Ded Hasan on 16th of Jan 2013|||

Today we present you the ENTRAILS of those who's behind this |||

assasination, they murdered the wrong guy!

||| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

It has come to this|||

Azerbaijan KGB or DMX got PWNED BIG TIME along with its patroned OIL GIANTS - SUMATO ENERGY and SOCAR|||

inside - confidential contracts with many companies worldwide such as BNP Paribas, ING Geneva, Crypto AG, Prolexic, TaurusP- etroleum, Exoil, McDermott and many other major corporations responsible for all the worldwide polution, poverty and famine around the globe. Swift comms,Letters of Credit, Interim Reports, Shareholders confidential documents, account statements, oil drilling technologies and know-how everything that belongs to dirty business of Azer KGB and it's oil offshore companies like Sumato Energy and GT all the secrets and all the nasty stuff just being popped out of it's safety deposit boxes which they spent millions of dollars to protect purchase and install - literally all the money spent by Azer government and business to buy secure solutions from WorldRenown Vendors FAILED to serve or please on its back or knees!!!

||||||||||||||||||||||||||||||||||||||||||||

Greetings to all Armenian brothers in Arms - Armenia Anons -|||

#AntiSec #Par-Anoia #LulzBoat #TPB |||

And R.I.P. 'Ded Hasan' - the manifesto reflects post mortem ||| burried alive and left for dead |||

one step back is two steps ahead |||

Armenian brothers Rise! From the Ashes and Decay! |||

Rise! From the Prison of your Grave!
http://bin.par-anoia.net/?f078100303069b18#esnrmEfyQwiOiM...

the more I read about this case, Socar trading and how democracy or the lack of it in Azerb and the corruption the more I am astonished

only we don't really understand what is in the documents and what is the context and what do they mean - if anybody with investigative reporting has can place the links between the facts and the documents, there are enough people interested in it - for Azerb leaders this could be worse than Wikileaks (if these documents are real)

so if you have more information, let me know

and what is bnpparisbas doing with this firm that is one of the most corrupt in the world ?

freedom and democracy for all - all the time - everywhere, anywhere, anytime

ps more securityfirms should sell bad protection to corrupt regimes and corporations :)

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12/17/2012

Fortisfiles and what we published in 2009

The Fortisfiles that are published by DeStandaard are really interesting. THey show a culture in which there is no place for risk calculations and objectivity or rationality. It is all blablabla and lookatme and who has the biggest stupid dream and I am going to run this company like caesar and all of that culture

this kind of people should be forbidden to ever have anything to do with whatever money for others they could become responsable for because responsability is not something they know (and they seem to have forgotten all about that)

but we already wrote about that at the time - about that culture in the bank of shutting out the risk auditors of every possible decision and sidelining everybody that wanted to use their arguments to stop the lunatics from taking over and losing other people's money

http://belsec.skynetblogs.be/archive/2009/02/26/exclusive-fortis-had-already-subprime-defaults-10-years-ago.html

and more about what we thought about the Fortis scandal a few years ago

https://www.google.be/search?q=site%3Abelsec.skynetblogs....s

these people make me sick - and all those who didn't do their job at the time and were there to keep our trust also

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11/12/2012

now that individual debt is so cheap to buy, lets destroy it buy buying it

The Rolling Jubilee project is seeking donations to help it buy-up distressed debts, including student loans and outstanding medical bills, and then wipe the slate clean by writing them off.

Individuals or companies can buy distressed debt from lenders at knock-down prices if it the borrower is in default or behind with payments and are then free to do with it as they see fit, including cancelling it free of charge.

As a test run the group spent $500 on distressed debt, buying $14,000 worth of outstanding loans and pardoning the debtors. They are now looking to expand their experiment nationwide and are asking people to donate money to the cause.

David Rees, one of the organisers behind the project, writes on his blog: "This is a simple, powerful way to help folks in need - to free them from heavy debt loads so they can focus on being productive, happy and healthy.
http://www.telegraph.co.uk/finance/newsbysector/banksandf...

but do not create a market for it because otherwise it will become more costly

this is better as an undercover project if it doesn't want to create this market

and the more undercover the cheapier and the more people can be helped

by phoney investment funds for phoney banks buying up debt and than disappear or go broke themselves (in theory)

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09/03/2012

the spiral of faster faster faster is killing automated trading

“There are several, including one at Infinium Capital in Chicago that lost more than $1 million in three seconds when a new algorithm began wildly trading crude oil futures.  Infinium, however, was able to shut the program down quickly.”

Steiner believes that the industry should expect regulation to curb this from happening again. He doesn’t blame the errors on the influx of automated trading but rather the constant need for an increase in speeds for high frequency trading.

“You really have to question what the value is of getting faster and faster by microseconds. What’s the value to the normal investor? What’s the value to the companies that are trying to raise capital on the markets, which is the whole point?”
http://www.cnbc.com/id/48526290/Knight_Capital_Type_Glitc...

the legislator will have to say stop because accidents and bugs and glitches do happen and if you are trading billions in seconds or millions in milliseconds than the consequences will only increase at an ever increasing rate

back to earth, finance wizard, you are like Icarus flying too high (but it is we who will have to put up the check)

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07/16/2012

Wikileaks wins from VISA (paypal and Mastercard next)

republished because there is nothing to add

"The Reykjavík District Court has ruled that Valitor, formerly known as VISA Iceland, violated contract laws by blocking credit card donations to Wikileaks, according to a press release posted on the whistleblowers' Twitter account.

 

The court also ordered that the donation gateway should be reopened within 14 days otherwise Valitor will be forced to pay a fine of  $6,200 daily. Valitor CEO Vidar Thorkellsson told Bloomberg, however, that the company would appeal the ruling. He declined to comment further.

WikiLeaks founder Julian Assange said "This is a significant victory against Washington's attempt to silence WikiLeaks. We will not be silenced. Economic censorship is censorship. It is wrong. When it's done outside of the rule of law its doubly wrong. One by one those involved in the attempted censorship of WikiLeaks will find themselves on the wrong side of history."

The blockade stripped away over 95% of donations from supporters of WikiLeaks, costing the organization in excess of  $20 million.

In June, Datacell, the Iceland-based company that processed donations for WikiLeaks, filed a case against Valitor, the company behind VISA and MasterCard, for "unlawfully suspending financial services".

Wikileaks faced a number of financial obstacles in 2010. When Master Card and other companies began to block payments to the site, Datacell allowed VISA card-holders to donate to Wikileaks via the company.

However, Visa banned its card-holders from donating to Wikileaks. Datacell's director Olafur Sigurvinsson told reporters he was amazed at the double stadards.

"I can support Al-Qaeda, the Ku Klux Klan, buy weapons and drugs and all kinds of porn with my Visa card. There is nobody investigating this, but I cannot support a human rights organisation which is fighting for freedom of expression," Sigurvinsson said.

Donating money is a basic right in every free society, agrees human rights activist Peter Tatchell.

“Julian Assange and WikiLeaks have not been charged with any offence, so to pre-emptively cut off the finances of a company that has not been found guilty of any crime, I think, is a very, very bad omen,” he told RT. “Once we give those companies the right to veto whose donations to which companies they would accept, we are on a slippery road not only to censorship, but indeed to an unfree society.”
http://www.rt.com/news/wikileaks-visa-court-case-040/

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07/05/2012

name the banks who defrauded the interest rates

Banks across the world were fixing interest rates in the run-up to the financial crisis but regulators failed to take action to stop it, the former head of Barclays claimed yesterday.

 
so why not ask them in each country and get to the evidence that is archived
in most countries you will not be able to look into emails and so on because banks aren't obliged to keep them - except if they are american or have american-styled laws or abide by some international norms

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07/03/2012

why we can't trust rating agencies for now

 

 

 

 

Morgan Stanley, according to the plaintiffs' filing, bears at least as much blame as the rating agencies: The bank allegedly wrote the Moody's report on the SIV and read the S&P report before it was released to investors. The summary judgment opposition points to evidence that Morgan Stanley pressured the rating agencies to apply methodology that didn't suit the securities and to ignore the paucity of historical data in order to grant the SIV a rating it didn't deserve. By sending a supposedly "threatening" email to an S&P higher-up when an analyst proposed granting the SIV a BBB rating, Morgan Stanley boosted the rating to an A, the plaintiffs assert. In support, they quote an email from Morgan Stanley exec Greg Drennan, who had sent the allegedly menacing email: The bank's efforts, Drennan wrote, "did get us the rating we wanted in the end."
http://www.zerohedge.com/news/unsealed-documents-expose-m...

because some-one has to pay them

and it is mostly private money

from the same people that are analyzed

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06/28/2012

why US banks have to keep every email (and phone-call and sms and chat) by law

A big scandal is unfolding because Barclays and probably a lot of other banks manipulated an international interbank lending indicator which they gave false information to set it more preferably when they had to lend huge sums on the market (they were playing Greece-Euro game in fact).

One reason that now the whole hierarchy of Barclay Bank is to be held accountable is because the investigators can refer to internal emails - some even a few years old.

The reason they can do this is because the US banks or those with operations in the US have to keep all internal communication safely stored away for investigation if necessary.

You can read some of these damaging emails here

http://www.telegraph.co.uk/finance/newsbysector/banksandf...

oh yes and if they should have destroyed the punishment in the US would have been harsch.

Europe is still far away from that.

and you wonder, how stupid to put all that in an email ..... what did they think, that nobody would never notice ?

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06/01/2012

why big banks can go under again (it is shadow banking this time)

this is the introduction to a report

In the run-up to the 2008 financial crisis, banks depended increasingly on an unreliable method of funding their activities, called “repurchase agreements,” or repos. Repos may look like relatively safe borrowing agreements, but they can quickly create widespread instability in the financial system. The dangers of repos stem from a legal fiction: despite being the functional equivalent of secured loans, repo agreements are legally defined as sales. Dressing up repo loans as sales can lead to sloppy lending practices, followed by sudden decisions by lenders to end their risky lending agreements and market panics. Repos also permit financial institutions to cover up shortcomings on their balance sheets. The problems in the repo market were exposed as the 2008 financial crisis unfolded, yet the risks posed by repos remain largely unaddressed. Without reform, the financial system will remain susceptible to the sudden and severe shocks that repos can cause.
http://www.citizen.org/repo-ruse-report

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01/18/2012

The Flanders government has no idea which institution has bought toxic dexia stock from Ethias

To explain it shortly - so it becomes clear why such a crisis becomes systemic (so the governement, the state (we) have to rescue it with our money) 

Dexia the bank is in trouble and to save it the government does two things. It guarantees the holdings of the users (with which the bank played poker on the stockmarket and in even more financially insecure trading places) and it asks the official institutions (like communes) not to sell its stock while it is still worth something or to buy some toxic stock from Dexia.

But Dexia wasn't and isn't saved yet and the stock reflects for the moment this reality. It is worth peanuts even when it was bought at a relatively high price. This is no problem if you didn't use it as a guarantee or if you have taken it up in your budget at a certain price to calculate your value of your portofolio etc....

So Ethias which is more or less the official insurer for many of the government employees in Belgium has out of 'free will' bought at the time a package of Dexia stock to help it survive (while at the other end they were still pursuing their mad speculative strategies). When that stock tumbled in value, Ethias itself (like a long list of other official and semi-official investment and semi-official institutions) came into trouble and as it would have become to expensive to go the market for fresh money it had to turn to the governments for help.

Not only did they get the money but they also wanted to sell their dexia stock at the price of that moment as Obligations (Ethias Finance). The stock of Dexia and the value of the obligations has fallen since.

Now if you want to hear a bit of newsspeak, this is really the best one ever heard

As those 'independent' flemish investment and financial institutions have not bought those obligations for the Flemish government, they didn't have to report if they have bought a part of these Ethias obligations and the Flemish government is not responsable for them. But the Flemish government will probably have to intervene when one of those institutions comes into trouble because it has used the original value of those obligations as a guarantee for other things.....

this is how a toxic stock becomes systematic through a lack of audit, transparancy, controls and limits .....

and that didn't change since the crisis of 2008

oh and the rest of the Dexia news is very far from encouraging ....... too little too late becomes nothing done untill it is absolutely too late (except from announcements and plans without concrete execution)

looks like the real Eurozone problem

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01/12/2012

Dexia - french rescue plan in trouble

if there are people who think that the European incapacity to execute the plan to save Greece from going under (since October) is just European and is not the same in the individual countries, they should remember that any plan (in any sector) which isn't followed up closely will disappear or just disintegrate or just become more and more difficult to implement

Le Monde wrote some days ago that

* there is no real firm engagement on paper that the workforce of Dexia will be able to transfer to the new saved financial institutions or their partners and that there is still a big way to go if it ever will come to that

* the french financial institution that was supposed to take over Dexia has serious doubts now and can even be incapable to do without putting itself in danger. The fact is that by not executing that plan immediately the cost of taking over and guaranteeing Dexia has become even more expensive for the bank because the net value of everything Dexia hasn't stopped declining. It would now have to inject an additional 2 billion euro's just do execute the same operation. But it want to get that money from the state because it doesn't have that money and it doesn't want to lend that kind of money because they normally can't have that much debt and don't want to be exposed to that kind of debt (surely not in the present circumstances). The minister of Finance is trying to force them to still go ahead but they are putting up some serious resistance.

The french state can't lend or give the additional 2 billion Euro's to guarantee the takeover of Dexia because that would increase the total debt of France and could make it even more possible that they would lose their triple A rating (so they can lend cheapier and don't have to cut so much in the budget as other countries the past year, which is very important in this electoral year).

The  main solution that the financial world in Paris would like to see is a total nationalisation of Dexia. Nationalise our debts and don't tax our gains, that's how we know them.

It is unclear what the repercussions will be.

It makes me think of Fortis in which the dutch thought they were doing a good job and had given the Belgians only the bad parts while in the end they ended up paying a lot more of their own money just to keep the bank afloat while Fortis is now part of an international big bank with a huge network.

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