The Federal Government has finally now, to so-called bad banks. The State takes a multi-billion risk so that ultimately the taxpayer is liable for. And not only that: banks can trust now in the future with some certainty that that the State already tell it, should they once again speculating. BR economy editor Christine Bergmann explains the relationships in a new video encyclopedia and speaks in the jargon of economists of moral hazard”. The alternative to bad banks is not tempting, because without their equipment, there will be no new confidence among the banks that will yet so urgently needed to give momentum to the economy. Behind the bad banks stand the thought that the banks of their toxic”(= worthless at the time) to redeem securities. Because the big problem of the financial crisis lie in that the banks themselves have no more confidence.
How many lazy “no bank knows securities have the others still in stock and how long it survive. Will it possible, however, so Bergmann, to outsource these papers in bad banks, the risk of securities from the balance sheets disappear, there arise new confidence and the economy come back to the required credits. The risk of wear then the taxpayers. According to the Wirtschaftsexpertin miner currently worthless papers are however not necessarily for all the times to write off. Experiences from the history would have shown that such papers could again be turned into money if you wait only long enough to. Be non-negotiable only at the moment. The cloven hoof of bad banks lie mainly in the signal to the banks: Were again high risks may also be in the future, they had in mind, the Government will help them. The danger of hot moral hazard”and was not to be.
The remarks by Christine Bergmann are (free) to get at the address lexicon (section economy ‘). The terms Bretton Woods’ and covered monetary system’ are commented on there by the BR Radio Editor at the video. The new encyclopedia of video is supported by the TV production company media van. Currently almost 100 videos are offered for the demand of professionals from different areas. (S.Kihm)