The situation is something like this: Not even that many months ago, the Belgian financial multinational Fortis had some megalomaniac desire to buy the – far too large- Dutch financial multinational ABN AMRO. The Belgians made a deal with the Royal Bank of Scotland and the
Spanish Banco Santander, who both bought different parts of the ABN AMRO. The deal for the parts of ABN AMRO that were to be bought by Fortis was approved by the shareholders. And everyone cheered with glee.

Convenient credit crunch
It was a ‘merger’ that might even have worked in some other space and time, who knows? All we know now is that the combining of both organisations turned out to be a disaster. Of course, everything could be blamed on the credit crisis. Fortis clients were withdrawing their money like maniacs and the company was hanging over the edge over bankruptcy, which would lead to complete monetary disaster in the Benelux. The governments of Belgium, Luxembourg and the Netherlands decided to save Fortis. It actually only makes sense that as part two of this operation, the Dutch government took over the Dutch parts of Fortis of the Belgian government. All financial institutions were saved, everyone could sleep easy. Well, all except for the shareholders who approved the merger of Fortis and ABN AMRO in the first place.

Are thou without shame?
The original board members of Fortis were scorned, thrown out, dragged into the streets naked (well… figuratively speaking). Obviously, the greedy shareholders who approved he merge operation were just as responsible for this tragedy. But instead of bowing their head in shame and hoping no one noticed, they decided to go to the courts. Reason? In saving Fortis, thus saving the financial systems of three nations as well as saving tens of thousands of jobs, from the disaster that those shareholders are greatly responsible for, it is quite possible that in the end the Dutch government may make money off of this deal.

Soulless spawn of Satan?
That’s beyond shamelessness. It’s even beyond greed. Their greed got them into a mess that would have meant that they -and others- would have lost everything and now they want to sue those that saw to it that they -and others- only lost a bit. I hear a columnist say that those people must be the soulless spawn of Satan. I actually find it hard to find arguments that would make someone think otherwise. It sooner add ‘winos’ to that description…

I am sorry,