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Thread: Greece may take legal action against US banks [edited]

  1. #41
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    Re: Greece may take legal action against US banks [edited]

    Quote Originally Posted by PeteEU View Post
    Problem is Greece did not approach them.. the banks approached Greece with a product designed to hide the debt. They were advised by the bank that it was legal and no problem. That was very bad advice and considering the information we have been getting on these very banks playing both sides of the track.. then the question arises if the banks set up Greece (and others) to fail so the banks could earn trillions.

    There is this thing of aiding a criminal or illegal act.. which is what the banks did.
    With Petey's logic, I put forth that Petey, if approached by a prostitute, would accept the come-on, then complain to his wife that he was given bad advice, a slick sales pitch with unbeatable audio and visuals. He would defend his betrayal with the simple,"the problem is I did not approach her... she approached me with a product designed to hide baloney. She advised that it was legal and no problem. It was very bad advice (as my wife let me know with a flying steel lamp)

    According to Petey, it's the prostitute's fault.

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    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  2. #42
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    Re: Greece may take legal action against US banks [edited]

    Berliners dream of return to deutschmark | World news | The Observer

    surprised?

    remember weimar, the inflation?

    die deutsche do

  3. #43
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    Re: Greece may take legal action against US banks [edited]

    Pope calls for ethics in world economy - Yahoo! News

    so now the vatican is getting involved

    politics must trump economics, preaches the pontiff

    no, no, no

    that's the way it IS

    but it's NOT the way it SHOULD BE

    mein Gott in Himmel, help us
    Last edited by The Prof; 05-23-10 at 01:35 PM.

  4. #44
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    Re: Greece may take legal action against US banks [edited]

    Here is another take:

    Who knew the instrument would not work?

    It may have.

    And with that I will paraphrase an old saying: What bright ones so do in the beginning is quickly followed by fools.

    I'm not savvy enough to know who has used this instrument before or how long it has been on the market. They bought into something they shouldn't have as stewards of the public trust. They did.

    But then again, socialism as... Medicaid, Medicare, The Grate Society, Raw Deal, Social Security, and ObamaKare are schemes with horrific end results. Greece, The US... USSR or DDR... it's all a time bomb. Some with longer, slower burning wicks (which allows correction), some... like the USSR exploded in a little more than a handful of generations.

    The late 1960's, early 70's were rife with investor idiocy, so much so Warren Buffett pulled out of the market and awaited the fall-out. Shouldn't Greece's best know what this plebe understands?

    Isn't it interesting how the bright minds of a free country could so sell themselves and their country out for... power? Have they no knowledge of history, or were they, like all socialist programs... speculators betting on a terribly low odds game? Who cared, it wasn't their cash. They knew better too, and hell... giving something for nothing is an attractive, easy though whorish business... but it's an easy, cheap (for the whore) way to gain power.

    The Greeks took their arrogance to another level with retirement at an age you are at your best, your most productive for society? That's one huge element lost in the grand equation.

    Either that are so ignorant they believe a society can get along with early retirement for employees as the individual had to pay for it. But the reality is... there are not enough of such individuals or businesses. And their punitive ways do not foster individualism but dependency.

    Greece got theirs... as will Europe and most likely Kanuckistan (their healthcare system is a rot and it is what did in the US car companies... if it doesn't work for the car companies, why will it work for a massive, detached bureaucracy?). Their markets are laden with rules and regs that make it tough to start up. That makes is largely different from the US, even though we are burdened and regulated beyond sanity.

    Greece may have done the world a favor by decomposing so fast. Too bad the EU didn't get Greece to pare down to the bone before delivering a penny.

    Huge mistake.

    .
    Last edited by zimmer; 05-23-10 at 01:46 PM.
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    Re: Greece may take legal action against US banks [edited]

    another dismal day

    dow dropped 80 points in the last 15 minutes yesterday, fell 200 in the first 2:00 this morning

    nikkei's down 3.1% (again) on the day, seoul's markets minus 2.75%

    at least 6 of the last 10 days have seen these devastating drops in international markets, england's ftse, france's cac, deutschland's dax...

    shanghai, japan, singapore, south korea...

    it's in asia, bigtime

    so are hillary and tax cheat geithner

    our troubled treas secty sees rosy glasses

    the chinese, in complete contrast, TALK LIKE ADULTS

    the vix, which measures volatility, jumped 5.7%, up 80% this month

    and you can kiss goodbye to credit as bankers worldwide are near panic

    worry

    Wall Street Tumbles and Euro Weakens - NYTimes.com

    Euro Falls on Concern Spain?s Bank Woes Signal Crisis Spreading - Bloomberg.com

    Stocks drop after euro slumps, Dow falls below 10K - Yahoo! Finance

    Dow Falls Under 10000 as Risk Is Shunned - WSJ.com

    News Headlines

    Europe's Banks Hit By Rising Loan Costs - WSJ.com

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    Re: Greece may take legal action against US banks [edited]

    have you heard the latest from europe?

    very bad news, no spin

    fitch downgraded spain's aaa rating, a devastating development

    Credit rating cut deals blow to Spain - Yahoo! Finance

    the ecb announced it was upping its purchase of govt debt, a move it last month called a "nuclear option" it would never take, as it anticipates another wave of bank failures coming

    TOPWRAP 3-ECB warns of more bank loan losses, ups bond purchase | Reuters

    eu unemployment reached an all time hi in april, and private sector growth is slowest since lehmans

    EU jobless hits record 10.1 per cent

    the euro continues to plunge, reaching a new 4 year low tuesday

    My Way News - Euro hits new 4-year low against dollar

    international markets, already coming off a miserable month, continued to drop precipitously tuesday---england's ftse fell 1.96% on the day, france's cac lost 2.09, germany's dax dropped 1.73, the nikkei shrunk .6%, australia's s&p .4%, seoul's kospi minus .7%, taiwan's markets declined 1.2%, honk kong's hang seng decreased 1.4, shanghai's composite index .9%...

    My Way News - World markets fall on Europe debt jitters

    thus, the cebr is advising athens to DROP OUT of the euro so it can devalue its currency, ie, enact the inevitable

    Greece urged to give up euro - Times Online

    meanwhile, geithner in china continues all his happy talk but the adults in beijung aren't buying

    News Headlines

    hu refuses to renegotiate currency, even tho bernanke claims the inequitable valuation of the yuan is one of the prime causes that brought us all here

    Hu says China to hold firm on yuan policy

    all these things are interconnected, like the oil in the gulf, the saber rattling on the 38th parallel, the shooting of blockade runners in international waters off gaza, the collapse of american housing...

    all of which contributes to the dow's worst may since 1940

    U.S. Stocks, Oil, Euro Tumble; Dow Ends Worst May Since 1940 - Bloomberg.com

    no spin, folks

    sorry

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