Forget Ukraine! The question is: " Is Poland going down??"

For example, the Dutch bank ING has a big Polish bank, but is now in trouble saving their own stuff in the Netherlands and Alt-A exposure in the US. The problem is not money leaving the Polish branches. The question is, will ING save the polish branch.

ING is just one small example of this, ....


They are already doing this. I don't know if you have lived on another planet the last months. The construction sector is down and out! A lot of Poles are taking one way journeys back to Poland, not only here in Belgium, it is everywhere in western europe.

A similar thing will happen to Poland as to Ireland. Too many getting swept up in illusory wealth and thinking they are actually doing really well when, at the chiming of a clock, things can turn around.

Only those who really control the wealth will keep well and truly afloat.

There is alot of truth in that statement. It beats me how some of the top paid, top educated people at the top of their professions could not see what was about to happen "almost overnight". However, surprise surprise they appear to come out "glowing", whilst the rest of use have to sweep up the crap.

Sorry I just have to say this. Everything I as brought up with honesty and moral values appears now to just turn around and bite me on the ar.... Just what type of society have we turned into where we would rather see Jade Goody's suffering than watch Mastermind.

Well, if you sell a mortgage to a 60 year old junk without income, assets and a decent house, you can get a away with it if you have one or two of those mortgages. If you have hundreds of thousands of these mortages you get the problems we have right now. There is nothing artificial about that.

Only the bang happened overnight, but the balloon was inflated during the last decade or so. there were enough people who warned for the bang...

Oh okay so they knew what they were doing, but did not really care about the consequences, because they knew directly they would be okay.They just have to give up one of their holiday homes, that they frequent once every summer, unlike many people who are losing their homes and their main source of income.

I wonder if the nation would be more forgiving if a pilot took off with fuel. Sometimes in life someone has to take responsibility. Seems this has been forgotten.

We are all responsible,
* the mortage broker that sold the mortgage and did not care shit if you could repay the loan, as long as he got his commision

* The loan taker, who should not have taken the loan, but was blinded by rising property values.
* the rating agencies who rated these loans as tripple A
* The big players who traded these loans in the market
* Schools, local goverment who invested in these loans
* The insurers who insured those loans
* The regulator for failing to act when it still mattered.

That is the problem with bubbles, a single person/entity can not create it, we all did!