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Last update - 20:33 26/10/2008
German economist compares criticism of bankers to 1930s anti-Semitism
By Reuters
Tags: Germany, anti-Semitism 

A leading German economist compared the criticism of bankers over the global financial crisis to anti-Semitism in 1930s Germany, according to a newspaper interview released on Sunday.

"In every crisis, people look for someone to blame, for scapegoats," Hans-Werner Sinn, president of the Munich-based Ifo economic research institute, told the newspaper Tagesspiegel.

"Even in the global economic crisis of 1929, no one wanted to believe in an anonymous system failure. Then it hit Jews in Germany, today it is managers," Sinn said, according to a transcript of an interview to be published in Monday's edition.
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The newspaper said Sinn had authorized the quotes.

More than 60 years after World War Two, comments seen as qualifying the horror of the Holocaust, in which Nazis killed 6 million Jews, still cause a stir in Germany.

The Central Council of Jews in Germany demanded an immediate apology from Sinn.

"This comparison is outrageous, absurd and completely misplaced, an insult to the victims," Stephan Kramer, its general-secretary, told the newspaper Neue Ruhr Zeitung.

"It would be news to me if managers were being beaten, murdered or locked up in concentration camps," he added in comments made available in advance of publication on Monday.

Sinn welcomed the government's 500 billion euros ($629.3 billion) bank rescue plan and said that, if politicians had done nothing, as was the case in 1929, the results could have been a meltdown of the financial system and mass unemployment.

It could have led to the radicalization of the Western world and eventually a crisis of confidence in the economic system, said Sinn.

"German history is with us and it is quite clear. The Nazis grew out of the crisis between 1929 and 1931. The Pied Pipers would be ready again today."


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      1.   Where are you, Natallie, Clickfool, & co? 20:41  |  Israeli citizen 26/10/08
      2.   i do not interpret it as anti-semetic. the usa will come out okay 21:14  |  ralph 26/10/08
      3.   An immediate apology? 21:22  |  Heather Czerniak 26/10/08
      4.   German economist compares criticism of bankers to 1930s anti-Sem 22:41  |  Bill 26/10/08
      5.   Gov. Palin quote -- music to the ears of antisemites 22:52  |  bbl 26/10/08
      6.   OK, someone said something stupid ... 23:08  |  Axel 26/10/08
      7.   Somebody benefited of fast selling those instruments 23:50  |  Petteri 26/10/08
      8.   wow, they must really think were stupid 00:30  |  kfir 27/10/08
      9.   And the U.S Jews didn?t get lesson from their past, 02:07  |  e.m Jordan is Palse 27/10/08
      10.   I agree with Sinn 03:04  |  MARK KLEIN, M.D. 27/10/08
      11.   Lets Blame Joe Six-Pack or Jose Cerveza for the Crisis 03:55  |  Robin 27/10/08
      12.   bbl it is Obama who keeps saying the Jews must share the wealth 04:08  |  Simon 27/10/08
      13.   Stupidity. Not same. Governments, bankers responsible 04:09  |  Semsem 27/10/08
      14.   bbl I trust Palin, a million times over Obama 04:22  |  Simon 27/10/08
      15.   Bad analogy 04:39  |  Peter Williams 27/10/08
      16.   Simon you clearly haven`t even begun to understand these issues 05:34  |  bbl 27/10/08
      17.   AXEL Israelis do not spend all day sniping at German politicians 05:55  |  PETER SM 27/10/08
      18.   Protest against anti Israel conference 06:49  |  Meir Weinstein 27/10/08
      19.   # 11 Robin;We should not give a chance to Obama 08:11  |  e.m Jordan is Pales 27/10/08
      20.   Anti-Semitism 08:29  |  Jean Van Daem 27/10/08
      21.   Alan Greenspan 09:00  |  Steven 27/10/08
      22.   Yidden: is it their agenda or yours? 09:26  |  Margie in Tel Aviv 27/10/08
      23.   ~ 8 % GDP made by Financial sector 09:29  |  German 27/10/08
      24.   This is the German Jewish Lobby 09:36  |  Fritz T. 27/10/08
      25.   You may not criticize a banker if 09:54  |  annie 27/10/08
      26.   Rafael Seligmann on this case 09:54  |  Fritz T. 27/10/08
      27.   #18 KOL HAKAVOD to you Meir Weinstein 10:16  |  Ari ben Yisrael 27/10/08
      28.   #21 Steven of Skokie ........ Hello!!!! it`s 2008 10:27  |  Ari ben Yisrael 27/10/08
      29.   Fritz T justifying antisemitism 10:36  |  x-ray 27/10/08
      30.   Partially true, unfortunately 10:43  |  Jewish gal in Milan 27/10/08
      31.   new anti-semitism? 11:06  |  yohan de doulos 27/10/08
      32.   # 17 petersm 12:57  |  Axel 27/10/08
      33.   #21 14:35  |  German 27/10/08
      34.   blame the jews 15:10  |  bri 27/10/08
      35.   Actually, my reading of history, 15:38  |  Bitin Dawg 27/10/08
      36.   Biting Dog`s "reading of history" 15:54  |  Hastaroth 27/10/08
      37.   Germans need another Scapegoat this time! 16:22  |  Stephan 27/10/08
      38.   On Monday afternoon, Sinn said 17:13  |  Robert 27/10/08
      39.   Hastaroth, here is this: 18:10  |  Bitin Dawg 27/10/08
      40.   Since "international bankers" meant Jews in 1930`s, 18:38  |  David Turner 27/10/08
      41.   So I saw 18:57  |  Edith 27/10/08
      42.   BITINDAWG.Come on,Nazis blamed Jews for EVERYTHING. 19:52  |  PETER SM 27/10/08
      43.   29, sort of a quote from the Kaethe Kollwitz diaries 20:15  |  Fritz T. 27/10/08
      44.   As a rule, Germans should shut their mouths! 22:28  |  Ofer Maimon 27/10/08
      45.   Freedom of speech 23:41  |  Frank 27/10/08
      46.   Financial terrorism. 00:11  |  Maureen Ann 28/10/08
      47.   The boys who "run" (ruin) things 04:13  |  Fritz 28/10/08
      48.   FRITZ "The Fed Is PRIVATE"? really? Those are its ONLY members? 05:56  |  PETER SM 28/10/08
      49.   MAUREN Fannie May and Freddie Mac are not on Wall street!! 05:58  |  PETER SM 28/10/08
      50.   Peter SM - YES! REALLY. 06:47  |  Fritz 28/10/08
      51.   FRITZ Here are the Governors of the Federal Reserve bank board.!! 08:29  |  PETER SM 28/10/08
      52.   #42 PeterSM. So what? 08:33  |  Maureen Ann 28/10/08
      53.   MAUREEN Obviously did not know where Freddie&Fannie were located 09:44  |  PETER SM 28/10/08
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