Shares massively drop in price the national banks come in with Millions of Dollars, Sterling and Euros to bail them out and stop them from falling!
So much for market forces eh?
I agree, it is disgusting - the market should punish the weak and reward the strong to the benefit of the wider economy, rewarding those who managed their risk and took the better business decisions.
IKB should have been allowed to collapse, and I am disgusted that there is no talk at all of preventing the handouts from KfW and the other banks to keep their peer in business.
State-owned with cross-ownerships - sounds like Japan in the 90s before their crash. Let's hope Italy and Germany change their ways before they end up there as well.