You can pretty much be sure that the American Bankster corporations did this to Greece along with America and the rest of the world. These evil scammers generated $700 trillion in CDOs many of them worthless. The Big 6 Bankster should be investigated and their assets seized.
This MF Global scandal is going to be big and will implicate a lot of people because it will go all the way up to the CME and the CFTC. It's the 7th largest FCM and $700M in customer funds are missing and the FBI is involved. I'll be surprised if we hear anything more about it from CBS. Lady Gaga and Scarlett Johanson's stalker are the most newsworthy stories out there these days.
OTC Derivitaves Markets are not transparent, not free from fraud, and not free from manipulation. The monied elete in Wall Street are making fortunes daily at the expense of the investor. The "European Crisis" as the media lovingly refers to is, will continue as long as these people continue to make money and remain free from scrutiny.
There's just too much money at stake for them to worry about "the investor". If the media wants so badly to play a role and be seen as something other than favored pet of the Wall Street crowd, then stay with the story about Jon Corzine and the rest of his ilk. Do "the investor" a small service. The EU crisis is only a small part of the whole picture.
People seem to forget that Greece is the birthplace of democracy and it would be wrong to just do what the U.S. did under Bush and Paulson in 2008. We are the stupid naive ones in this country, whose people are mere dumb pawns. At least, the Greeks honor their citizens with the right to vote to determine their destiny. Our govenment under Bush was a trigger away from an autocracy.
This is entirely different from the US in 2008. We had the options of increasing debt to save our banking system and increasing debt to save our economy or default. Greece is being given the option of having a safety net in exchange for cuts that guarantee they will need a safety net. Like being stuck in a tree and cutting off the branch you're standing on because you're pretty sure you'll need it for crutches and a splint after you hit the ground... except if you're Greece, that tree is also on fire. Greece cannot win :(
I'm just not clear why one small country's financial problems need to threaten the whole world. Is our financial system really that fragile that any country can act as an achilles heel (pun most certainly intended).
It's not just Greece, it's the PIGS (Portugal, Italy, Greece, and Spain). Think of it like this. PIGS is to the Euro-zone, like sub-prime mortgages, mortgage-backed securities and collateralized debt obligations were to our financial industry back in 2008. And we all know how that ended.
This is a serious finanical problem for the entire world and instead of comments relative to a potential Greek default we are seeing another attempt to divert attention from the problem by engaging in electioneering. That is exactly why there is an Occupy movement. The media, even these comment sections, is dominated by political operatives who do all they can to divert attention from issues by converting any discussion into a personality parade.
AUSTERITY = The politicians/(WALL STREET) corporations have stolen OUR MONEY and/or gave it away to friends in NO BID/BID RIG CONTRACTS... and now we have to make up for their criminal/incompetent actions! Start reporting the truth Corporate (WALL STREET) Media!
The posting of advertisements, profanity, or personal attacks is prohibited. By using this Web site you agree to accept our Terms of Service. Click here to read the Rules of Engagement.
Reply to Comment The posting of advertisements, profanity, or personal attacks is prohibited. By using this Web site you agree to accept our Terms of Service. Click here to read the Rules of Engagement.
There's just too much money at stake for them to worry about "the investor". If the media wants so badly to play a role and be seen as something other than favored pet of the Wall Street crowd, then stay with the story about Jon Corzine and the rest of his ilk. Do "the investor" a small service. The EU crisis is only a small part of the whole picture.
"MF Global scandal puts markets on edge"
"Markets fear additional BOJ currency intervention"
All these Greek/EU tags are get boring and played out.
And we all know how that ended.