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  • The Duel: State banks - Speculation at Taxpayers' Expense?

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The Duel: State banks - Speculation at Taxpayers' Expense?

WestLB, partly owned by the state of North Rhine-Westphalia, and Saxony's state bank, Sachsen LB, have avoided bankruptcy only by receiving transfusions of billions of euros in public funds. Economic experts stage a debate. WestLB, Sachsen LB, and Bavaria's Bayern LB, small publicly owned banks whose task is to foster mid-sized businesses, have all lost huge sums gambling on the American mortgage market. They don't even know how many billions they have to write off. Now taxpayers have to bail them out. Why does Germany need state banks? Who will be held responsible? Vanessa Fischer sets the opposing sides against each other.

DW-World | February 26, 2008Watch more videos from DW-World

Tags:. .market. .against. .publicly. .north. .does











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