Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Bail-out refusal knocks billionaire (Man asked Germany for a bailout for stock gambling losses)

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread		 This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
Robbien Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-08 12:41 AM
Original message
Bail-out refusal knocks billionaire (Man asked Germany for a bailout for stock gambling losses)
Source: Financial Times

Adolf Merckle's hopes for an easy way out of his financial woes were dashed yesterday when the regional government said the German billionaire, who suffered huge losses from bets on falling share prices, could not receive a state bail-out.

Ernst Pfister, economics minister at the state of Baden-Württemberg, said that the regional government would not grant Mr Merckle any credit guarantees.

. . .

Bankers said that VEM had a debt burden of $6.3bn.

They said that Mr Merckle's various holdings with more than 100 companies were "leveraged like a private equity company".



Read more: http://www.ft.com/cms/s/0/bc391a18-c010-11dd-9222-0000779fd18c.html
Printer Friendly | Permalink |  | Top
ksimons Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-08 12:53 AM
Response to Original message
1. what a baaaaaaaaaaaaad boy!

I guess he'll think twice before doing THAT again.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sun Nov 03rd 2024, 07:38 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC