As the Great Recession continues around the world, BNP Paribas agrees to takeover Fortis from the Belgian government for 14,500,000,000 Euros. This deal makes BNP the largest bank operating in the European Union.

       [added 5/30/2021]

       The Board of Governors (a Federal agency) of the privately owned the privately owned Federal Reserve System of (central) Banks announces that it will immediately make available 150,000,000,000 “dollars” in emergency loans to its member-commercial banks, with the possibility of releasing another 750,000,000,000 “dollars” in loans at a later date; also the FRBs will begin to pay interest on their “excess reserves” (physically existing Federal Reserve Notes (Bill of Credit) above and beyond that which they are required to maintain in their vaults every Wednesday).

       NOTES:

• This essentially means that banks will now be paid not to make loans (keep the nation’s economy in recession).
• Paying interest on required reserves is of little consequence, as the Federal Open Market Committee of the FRSB has suspended the reserve requirement.
• This is the further realization of plank number five of the “Communist Manifesto” by Karl Marx.

       [added 5/30/2021] Thanks to Freedom’s Phoenix for this entry.

       On the very first business day after Republican (fascist/socialist) President George W. Bush signed the “Billionaire Bailout (and left taxpayers the) Bill,” the Dow-Jones Industrials 30 Index drops more than 700 points.  Also around the world,

• The Financial Times and London Stock Exchange Group 100 Index, of the United Kingdom, drops 7.9%,
• The Deutscher Aktien 30 blue chip stock IndeX, of Frankfurt, Germany, drops 7.1%,
• The Continuous Assisted Quotation 40, of Paris, France, drops 9%,
• And trading on the Russian Trading System, of Moscow, was suspended after the RTS Index, dropped more than 20%.
• And Iceland stopped trading in the stocks of six commercial bank stocks.

       [added 5/30/2021] Thanks to Freedom’s Phoenix for this entry.