DSB bank sinking?
A minor and politically well connected bank in The Netherlands in in deep problems after its solvency came in doubt in the past week. Last Sunday Finance Minister Wouter Bos, (Labour Party) had emergency regulations imposed on DSB bank. The bank was bleeding liquidity as the public was doubting whether the bank was solid. The Dutch public was shocked when accounts were frozen and people could only draw limited amounts of money to pay their bills.
Political connection reflect badly on the Government
DSB bank was a bank with aggressive sales policies for instance in the field of mortgages and insurance. They had several VVD politicians on their Board of Directors amongst them Gerrit Zalm, former Finance Minister. During the Financial crisis Gerrit Zalm was recalled by the government as a special advisor. He is regarded as one of the most influential advisors of the Ministry of Finance. With the demise of the DSB bank the authority of this advisor and the Minister of Finance and the Government as a whole have taken a serious hit.
The judiciary, the police, the banks, the Government. All institutions seem to be failing the Dutch.