France Sees Public Investment Bank by Year-End

[newthinking]

Those socialists and their "welfare" policies. What are they doing? How will this help the rich "job creators"?

France Sees Public Investment Bank by Year-End, Parisien Says

Arnaud Montebourg, France’s minister for productive recovery, said a public investment bank will be created by the end of the year, Le Parisien reported in its Sunday edition, citing an interview.

The law to create the bank will be ready after the summer holidays, Montebourg said, according to the newspaper.

Private banks are not “sufficiently interested” in the real economy, preferring to be active in global markets, and the “confusion” between the role of savings banks and investment banks has “many adverse effects,” Montebourg said, according to Le Parisien.

Montebourg said it’s “absurd” that banks post “indecent margins at the cost of crushing our industrial economy,” and setting profit margins at 15 percent enters the realm of “unscrupulousness and indecency,” the paper wrote.

http://www.bloomberg.com/news/2012-07-01/france-sees-public-investment-bank-by-year-end-parisien-says.html

[Ganja Ninja]

1. I saw this this morning on RT.

This is what Germany did long ago and Brazil started it 10 years ago. The Brazilians went from being one of the worlds largest debtor nations to where they now loan money to the IMF.

We could do it here if the Republican's would keep from screwing it up.

[dipsydoodle]

2. There were however other reasons

why Brazil went from being one of the worlds largest debtor nations to where they now whereby they loan money to the IMF.

Attributing that to an independent bank is farcical.

[cpamomfromtexas]

3. I've often wondered why the gov't doesn't have it's own

American made mutual fund that invests in american jobs that wall street would have to compete with, in addition to a bank for small business and research loans.

Of course standards would have to be created for them so they remain candidates for inclusion like job retention etc.

That way all of those with retirement, 401K's, IRA's and savings could feel they have a direct impact on job growth here.