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MarketFoolery

MarketFoolery: 03.25.2013

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 25 March 2013

⏱️ 18 minutes

🧾️ Download transcript

Summary

Cyprus reaches a deal with the EU. Apple makes an acquisition. Ford makes an apology.

Transcript

Click on a timestamp to play from that location

0:00.0

It's Monday, March 25th, and this is Market Foolery.

0:06.0

I'm Rex Moore sitting in for Chris Hill today.

0:08.8

Joining me in studio, our crack team of analysts from Motley Fool's supernova, Matthew Arger singer, and from

0:15.6

Motley Fool 1, Jason Moser.

0:18.1

Welcome guys on a snowy spring day in our nation's capital.

0:22.0

Hey Chris. Wait a minute's capital. Hey Chris.

0:23.0

Wait a minute, you're not Chris.

0:25.0

On today's show, Apple's not giving up on maps,

0:28.0

a salute to Dollar General, and Ford's incredibly distasteful advertising.

0:33.9

But we began with a late night bailout in Cyprus.

0:37.8

Guys you'll remember last week, the country's parliament

0:40.2

rejected the idea of taxing all bank depositors there, including the small guys.

0:46.7

That did not go over well, but it looks like the deal now, a 30 to 40 percent tax on everyone with over a hundred thousand euros in the banks.

0:56.0

Ouch!

0:57.0

Most everyone I believe is probably breathing a sigh of relief about this deal unless you're a Russian with a lot of money in a Cypriot bank.

1:03.7

Matthew you say that this is exactly what should have happened though.

1:07.3

Well something like this is what should happen anytime you have uninsured deposits

1:12.2

at a bank or investment institution and that

1:14.8

investment institution goes under usually you're not guaranteed to get your

1:18.5

money back and that is exactly what's happening anyone who has accounts over a hundred thousand euros,

1:24.3

a hundred thirty thousand dollars roughly, you know, you're going to be

1:27.2

susceptible to a massive haircut somewhere in the range of thirty to forty percent,

...

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