Ersin Ozince, the head of Turkey's largest lender resigns after a public spat with the economics...


Ersin Ozince, the head of Turkey's largest lender resigns after a public spat with the economics minister, who warned of "police-type measures" if banks don't cool lending. Referencing this month's arrest of 2 journalists, Ozince wondered if bankers were going to be next on the government's list.
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Comments (4)
  • Efsinvestment
    , contributor
    Comments (1595) | Send Message
     
    There is a general parliament election in June. He probably resigned to gain a political chair. Thanks to the central bank's below inflation interest rates, Turkish banks made enormous profits during the crises period and afterwards. Their profits more than doubled in the last 5 years. They grow so fast, 3 large-cap banks constitute almost 50% Turkish Stock Exchange market, now. He should be grateful to the government policies. Turkish banks not only survived the global crises, but they also became the shining stars in Europe.
    31 Mar 2011, 04:32 PM Reply Like
  • Tom Au, CFA
    , contributor
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    Countries that put bankers in jail are "totalitarian." That's why it will never happen here.
    31 Mar 2011, 05:10 PM Reply Like
  • Efsinvestment
    , contributor
    Comments (1595) | Send Message
     
    No banker is in jail. Nobody is planning to put bankers in jail, as well. There are hundreds of millionaire bankers in US, who used Ponzi schemes during the sub-prime crises. I remember a close friend working in Charlotte as a division manager in mortgage business. He was driving a Ferrari at the age of 28! Wachovia is gone kaput. He is still driving his Ferrari. How about the taxpayers? How about those who lost their jobs, or retirement portfolio?
    31 Mar 2011, 05:15 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6879) | Send Message
     
    Those are good questions.

     

    But I just gave you the likely answer.
    31 Mar 2011, 05:19 PM Reply Like
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