of Greece, unknown debt, Goldman/WS - again, accounting and the Euro

W

Wallace

'Only Supply-Side Reforms Can Save Greece '
http://online.wsj.com/article/SB100...l?mod=WSJ_latestheadlines#articleTabs=article

but as 'HENRY BLANKETT' points out with his 'Comment' that: "The author is apparently
unaware that Wall Street helped to dig Greece's grave"
'Wall St. Helped to Mask Debt Fueling Europe’s Crisis'
http://www.nytimes.com/2010/02/14/business/global/14debt.html
"For all the benefits of uniting Europe with one currency, the birth of the euro came with
an original sin: countries like Italy and Greece entered the monetary union with bigger
deficits than the ones permitted under the treaty that created the currency. Rather than
raise taxes or reduce spending, however, these governments artificially reduced their
deficits with derivatives."
 
Like that's ever going to happen!

Goldman will cash in big like it did with shorting AIG.

Moody's states that if a Bank needs an intervention or infusion of cash the rating drops to D+. It was in an article talking about the Royal Bank of Canada.

So how can all the US Banks still have these higher ratings?
How can Goldman Sach's be allowed to rate Stocks and Banks without it being a conflict.

The whole thing is a sham.

When Buffet and Paulson the President of the US all sit and talk about what to do. Sure sounds like inside trading.

Goldman is the law. I remember Goldman saying at the hearing that they take the other side. They are an Investment Bank and the public needs to realize that even though they had to become a Bank overnight and had Billions given to them from the tax payers they have no responsibility to them.

They felt no remorse in taking the taxpayers money and then shorting the agency that gave them the money basically into bankruptcy under the eyes of the US Gov.
 
GS aside, isn't what occurred with Greece's financing what's been happening throughout the
US - states, municipalities, down to unions etc and the Union as a whole via the Fed ?
 
everyone hates the bond vigilantes. all they do is shine the bright light on what's really up, instead of pretending politely that the emperor has no clothes...
 
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