Bad Bank in Germany
Germany has several Bad Banks dating as far back as the 80s, Bankaktiengesellschaft (BAG), owned by the Federal Association of German 'Volksbanken und Raiffeisenbanken' Co-operative Banks, Bankgesellschaft Berlin, Erste Abwickelungsanstalt and FMS Wertemanagement. The Erste Abwickelungsanstalt and the FMS Wertmanagement together hold 190 Bn € and 170 Bn € respectively from the failed WestLB and Real Hypo Estate.
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Famous quotes containing the words bad, bank and/or germany:
“A bad book is as much of a labour to write as a good one; it comes as sincerely from the author’s soul.”
—Aldous Huxley (1894–1963)
“People get a bad impression of it by continually trying to treat it as if it was a bank clerk, who ought to be on time on Tuesday next, instead of philosophically seeing it as a painter, who may do anything so long as you don’t try to predict what.”
—Katharine Whitehorn (b. 1926)
“By an application of the theory of relativity to the taste of readers, to-day in Germany I am called a German man of science, and in England I am represented as a Swiss Jew. If I come to be regarded as a bête noire the descriptions will be reversed, and I shall become a Swiss Jew for the Germans and a German man of science for the English!”
—Albert Einstein (1879–1955)