2 comments on “Wouldn\’t disagree with this

  1. I love the bafflement in the Guardian’s headline today – along the lines of “God, what ungrateful fascist bastards the market are – our wise and benevolent leaders have clubbed together to create a new Greek coalition and the markets have the temerity to fall! HOW VERY DARE THEY? Don’t they know the great and good have spoken?”

  2. Oh, and how about the agent conflict of investment bankers who present the cooked books to get the Greeks into the Euro in the first place, then come out and say admitting that Greece could leave the Euro is potentially “Pandora’s Box”. Oh, and then send in the former partner who happens to be US Secretary of the Treasury to tell the Europeans to sort out the problem before it spreads to the US banks’ holding of sovereign CDS (roughly half of the US banks capital according to the BIS). The same lot who once the 10x capital restraint legislation limit was lifted took their official, end quarter gearing to 60x and presumably on average rather higher in the course of the run-up to the banking crisis. Whose yachts are those?

Leave a Reply

Name and email are required. Your email address will not be published.