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Suffice to say, whether it is Olympic or Obama driven, the nationalistic juices are starting to flow again. It’s not just local this time either; it’s global. Germany announced today that they are drafting a law that would give the German government veto power over any proposed “foreign acquisitions” of their domestic assets.

The vote is scheduled for August the 20th, and this timing is being expedited I think in response to the Chinese bidding for Dresdner Bank. The 3rd largest German bank is in play and the Development Bank of China is currently bidding against Commerzbank AG for the prize. Commerzbank is Germany’s 2nd largest bank by assets.

This isn’t an Olympic swim meet. Protectionism is a negative “Trend” that is developing as world economic growth slows and governments lean to the left of the political spectrum.

KM