Black Monday
- Thread starter bond_trad3r_II
- Start date
I could do the same, pick out the parts that make my point.
Your point though is bogus - the powers that be, made it work. Greece clearly never fit the requirements. Just like our bankers here in the U.S. (and elsewhere in the world) made it work for home mortgages that never should have been written.
Only thing is you can repossess a home, you can't repossess a country.
And oh the UK is thankful everyday they are not in Euro. And yes their interests are self-serving as it should be for any nation whose leaders have a clue.
you keep on spreading bullshit and nonsense. The issue of the 2008 financial crisis was NEVER that subprime loans should not have been underwritten but that their default risk was completely miscalculated and wrongly assessed. You seem to talk a lot when you in fact know very little about this issue. Even high-risk sports athletes are insured albeit at a lot higher premium compared to someone who lives a less risky life style.
You are still claiming that lies that are spread and falsified accounting is the fault of the creditors and not the one who spreads and makes up lies? Makes zero sense.
You are still claiming that lies that are spread and falsified accounting is the fault of the creditors and not the one who spreads and makes up lies? Makes zero sense.
It would make zero sense if that is what I said. It wasn't.
In "plain English" the Greeks made up the lies (not the creditors) but it was the creditors who believed the lies with a wink and nod. Now go along and read some more history of what really happened as well as prior history. For instance, how they have defaulted 5 times previously and have been in default just about 100 years out of the last 200.
Most of what you say is accurate. The stickler for me for is that it was Draghi, the then newly APPOINTED ECB President had a part in the book cooking (by Goldman Sachs) which allowed Greece's entry. Therefore IT WAS THE CREDITORS WHO LIED, and as austerity has proven, the lies have been at the expense of the Greek people, at least until today.
"Draghi was then vice chairman and managing director of Goldman Sachs International and a member of the firm-wide management committee (2002–2005).[8]"
"Concerns were also expressed during the candidacy about Draghi's past employment at Goldman Sachs.[8][26] Pascal Canfin (MEP) asserted Draghi was involved in swaps for European governments, particularly in Greece, trying to disguise their countries' economic status. Draghi responded that the deals were "undertaken before my joining Goldman Sachs [and] I had nothing to do with them", in the 2011 European Parliament nomination hearings.[27][28][29]"
Previously worked at Goldman, now president of the ECB. What could go wrong...
"Concerns were also expressed during the candidacy about Draghi's past employment at Goldman Sachs.[8][26] Pascal Canfin (MEP) asserted Draghi was involved in swaps for European governments, particularly in Greece, trying to disguise their countries' economic status. Draghi responded that the deals were "undertaken before my joining Goldman Sachs [and] I had nothing to do with them", in the 2011 European Parliament nomination hearings.[27][28][29]"
Previously worked at Goldman, now president of the ECB. What could go wrong...
The politicians, the banksters, the bureaucrats ALL lied to get Greece in. Then the azz covering started. Now the squeeze job.
Nobody is innocent - except maybe the everyday ordinary people.
And why would have anyone let the Greeks in knowing they had no intention of attitude change? Certainly Germany never intended to get paid a single penny out of Greek pockets and certainly not even the dumbest German sees it to make economic sense to lend a euro (knowing, as you insist, that the Greeks would never be able to repay) , so Greeks can buy a German product and return the borrowed funds in the future? This is where your logic gets lost on me.