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An alcoholic can't get drunk if you cut him off. Is it illegal to sell alcohol to an alcoholic? Not when you get to write the rules.
Greece was the alcoholic, and Wall Street was the bartender that kept pouring. And that bartender made sure Congress didn't outlaw serving booze to drunks.
And now Greece is running people over while the bartender banks his profits.
Along comes Rabbi, "Was anything illegal done by selling that booze to Greece?"
Greece will pull the EU down, possibly trigger a depression there, that will, more than likely come here.What happens when more people depend on government spending than the number who contribute? Well, you realize what happens when leftist politicians take you on an unsustainable course. Since you always run out of other peoples' money, the only end is that eventually you will collapse under your own weight.
Instead of making needed cuts in spending and making the necessary changes to recover, they will now have nothing.
I see no difference in the policies the Dems are embracing here. Are they wanting us to collapse or are they so ignorant that they think they can do the same thing that's been done before and have a different outcome for once?
Politics Under weight of massive welfare state Greece about to default on IMF loans Best of Cain
since everyone saw it coming or was told it was coming, I have to assume this was the plan.
No party would intentionally crush it's own country unless that was the plan.
are we looking at a government take over?
the UN running everything?
I used to laugh at people that talked about the "new world order", now, not so much
I arrange a loan to a horrible borrower, and get a fee. I immediately pass the paper for that loan to a sucker. The risk is out of my hands, and now I have more cash to make more bad loans, and make more fees. All the while, all that bad debt is getting passed on to rube private investors who buy into my hocus-pocus marketing gibberish. I even convince the ratings agencies that toxic debt is AAA gold! MWA-HA-HA-HA!
The day of reckoning will come when it is time to revolve all that bad credit, and the house will crash down. But don't worry, the government will rescue the rich investors, and the public will assume all that toxic debt. Yay capitalism! Nothing wrong here!
Even better, the very public I just fucked up the ass will say...get this... I was forced to make those bad loans! You will never never never hear ME say it, but THEY will. BWA-HA-HA-HA-HA!
Oh my god, it's so unfuckinglybelievably good to be in this life.
Which is EXACTLY the justification the broker-dealers used. "If we don't do it, someone else will, and we will lose out on the fees."An alcoholic can't get drunk if you cut him off. Is it illegal to sell alcohol to an alcoholic? Not when you get to write the rules.
Greece was the alcoholic, and Wall Street was the bartender that kept pouring. And that bartender made sure Congress didn't outlaw serving booze to drunks.
And now Greece is running people over while the bartender banks his profits.
Along comes Rabbi, "Was anything illegal done by selling that booze to Greece?"
Maybe you don't know any alcoholics.
I do.
What happens is that if the alcoholic can't buy booze at one place, they'll keep going from place to place to place.
If you are a rube from the country with bad credit who wants money to buy some hookers and blow, and across the table from you is a banker schooled in the world of high finance, who is more to blame for you getting a loan?I arrange a loan to a horrible borrower, and get a fee. I immediately pass the paper for that loan to a sucker. The risk is out of my hands, and now I have more cash to make more bad loans, and make more fees. All the while, all that bad debt is getting passed on to rube private investors who buy into my hocus-pocus marketing gibberish. I even convince the ratings agencies that toxic debt is AAA gold! MWA-HA-HA-HA!
The day of reckoning will come when it is time to revolve all that bad credit, and the house will crash down. But don't worry, the government will rescue the rich investors, and the public will assume all that toxic debt. Yay capitalism! Nothing wrong here!
Even better, the very public I just fucked up the ass will say...get this... I was forced to make those bad loans! You will never never never hear ME say it, but THEY will. BWA-HA-HA-HA-HA!
Oh my god, it's so unfuckinglybelievably good to be in this life.
If you call a hit man and say "I want to kill XXX," who is more at fault for the murder?
Which is EXACTLY the justification the broker-dealers used. "If we don't do it, someone else will, and we will lose out on the fees."An alcoholic can't get drunk if you cut him off. Is it illegal to sell alcohol to an alcoholic? Not when you get to write the rules.
Greece was the alcoholic, and Wall Street was the bartender that kept pouring. And that bartender made sure Congress didn't outlaw serving booze to drunks.
And now Greece is running people over while the bartender banks his profits.
Along comes Rabbi, "Was anything illegal done by selling that booze to Greece?"
Maybe you don't know any alcoholics.
I do.
What happens is that if the alcoholic can't buy booze at one place, they'll keep going from place to place to place.
You're learning!
Greece has to default. There is no way around it.I'm not sure the thread's touched upon it, but you noted the banks got bailed out, not the Greeks. There's a problem with calling for more austerity in that unemployment in Greece is trending over 25%, and I'm sure it's a lot worse if you just measured workers in the private sector. Simply put, there are a lot of retirees who retired in their 40s who are now supporting out of work adult children with their pensions. Not that any of it's "right," but in a sense Greece needs a bankruptcy to let it re-start.I arrange a loan to a horrible borrower, and get a fee. I immediately pass the paper for that loan to a sucker. The risk is out of my hands, and now I have more cash to make more bad loans, and make more fees. All the while, all that bad debt is getting passed on to rube private investors who buy into my hocus-pocus marketing gibberish. I even convince the ratings agencies that toxic debt is AAA gold! MWA-HA-HA-HA!
The day of reckoning will come when it is time to revolve all that bad credit, and the house will crash down. But don't worry, the government will rescue the rich investors, and the public will assume all that toxic debt. Yay capitalism! Nothing wrong here!
Even better, the very public I just fucked up the ass will say...get this... I was forced to make those bad loans! You will never never never hear ME say it, but THEY will. BWA-HA-HA-HA-HA!
Oh my god, it's so unfuckinglybelievably good to be in this life.
And, The OP's a bit of dramaqueen, imo.
Too much spending and not enough income. The same thing that gets every deadbeat in trouble.Which is EXACTLY the justification the broker-dealers used. "If we don't do it, someone else will, and we will lose out on the fees."An alcoholic can't get drunk if you cut him off. Is it illegal to sell alcohol to an alcoholic? Not when you get to write the rules.
Greece was the alcoholic, and Wall Street was the bartender that kept pouring. And that bartender made sure Congress didn't outlaw serving booze to drunks.
And now Greece is running people over while the bartender banks his profits.
Along comes Rabbi, "Was anything illegal done by selling that booze to Greece?"
Maybe you don't know any alcoholics.
I do.
What happens is that if the alcoholic can't buy booze at one place, they'll keep going from place to place to place.
You're learning!
You still havent told us what got "grease" in trouble in the first place...
If you are a rube from the country with bad credit who wants money to buy some hookers and blow, and across the table from you is a banker schooled in the world of high finance, who is more to blame for you getting a loan?I arrange a loan to a horrible borrower, and get a fee. I immediately pass the paper for that loan to a sucker. The risk is out of my hands, and now I have more cash to make more bad loans, and make more fees. All the while, all that bad debt is getting passed on to rube private investors who buy into my hocus-pocus marketing gibberish. I even convince the ratings agencies that toxic debt is AAA gold! MWA-HA-HA-HA!
The day of reckoning will come when it is time to revolve all that bad credit, and the house will crash down. But don't worry, the government will rescue the rich investors, and the public will assume all that toxic debt. Yay capitalism! Nothing wrong here!
Even better, the very public I just fucked up the ass will say...get this... I was forced to make those bad loans! You will never never never hear ME say it, but THEY will. BWA-HA-HA-HA-HA!
Oh my god, it's so unfuckinglybelievably good to be in this life.
If you call a hit man and say "I want to kill XXX," who is more at fault for the murder?
Who is more to blame: Populist government politicians who want to buy some bread and circuses, or the bankers who got them the loans?
Too much spending and not enough income. The same thing that gets every deadbeat in trouble.Which is EXACTLY the justification the broker-dealers used. "If we don't do it, someone else will, and we will lose out on the fees."An alcoholic can't get drunk if you cut him off. Is it illegal to sell alcohol to an alcoholic? Not when you get to write the rules.
Greece was the alcoholic, and Wall Street was the bartender that kept pouring. And that bartender made sure Congress didn't outlaw serving booze to drunks.
And now Greece is running people over while the bartender banks his profits.
Along comes Rabbi, "Was anything illegal done by selling that booze to Greece?"
Maybe you don't know any alcoholics.
I do.
What happens is that if the alcoholic can't buy booze at one place, they'll keep going from place to place to place.
You're learning!
You still havent told us what got "grease" in trouble in the first place...
So if you are a banker arranging a loan for someone with a known history of spending on hookers and blow, what kind of culpability are we looking at here on that part of that bank?
Especially if the bank helps the deadbeat to hide his new debts from the credit ratings agency?
Thats obvious.
It's kinda like the dumb shit who buys a car from one of those "You Buy Here You Pay Here!!" places and he doesnt have a job.
I don't agree. Greece is not large enough to pull the EU economic engine down. It can, however, bring about a significant reduction in activity that could harm world markets and damage retirements.Greece will pull the EU down, possibly trigger a depression there, that will, more than likely come here.What happens when more people depend on government spending than the number who contribute? Well, you realize what happens when leftist politicians take you on an unsustainable course. Since you always run out of other peoples' money, the only end is that eventually you will collapse under your own weight.
Instead of making needed cuts in spending and making the necessary changes to recover, they will now have nothing.
I see no difference in the policies the Dems are embracing here. Are they wanting us to collapse or are they so ignorant that they think they can do the same thing that's been done before and have a different outcome for once?
Politics Under weight of massive welfare state Greece about to default on IMF loans Best of Cain
since everyone saw it coming or was told it was coming, I have to assume this was the plan.
No party would intentionally crush it's own country unless that was the plan.
are we looking at a government take over?
the UN running everything?
I used to laugh at people that talked about the "new world order", now, not so much
I wonder what we would find if we compared the U.S. Stock market losses today, versus the Greek debt...probably could have paid the whole thing off....What happens when more people depend on government spending than the number who contribute? Well, you realize what happens when leftist politicians take you on an unsustainable course. Since you always run out of other peoples' money, the only end is that eventually you will collapse under your own weight.
Instead of making needed cuts in spending and making the necessary changes to recover, they will now have nothing.
I see no difference in the policies the Dems are embracing here. Are they wanting us to collapse or are they so ignorant that they think they can do the same thing that's been done before and have a different outcome for once?
Politics Under weight of massive welfare state Greece about to default on IMF loans Best of Cain
I bet in March of 2008, there were people who didn't think Lehman Brothers could pull the world down, either.I don't agree. Greece is not large enough to pull the EU economic engine down. It can, however, bring about a significant reduction in activity that could harm world markets and damage retirements.Greece will pull the EU down, possibly trigger a depression there, that will, more than likely come here.What happens when more people depend on government spending than the number who contribute? Well, you realize what happens when leftist politicians take you on an unsustainable course. Since you always run out of other peoples' money, the only end is that eventually you will collapse under your own weight.
Instead of making needed cuts in spending and making the necessary changes to recover, they will now have nothing.
I see no difference in the policies the Dems are embracing here. Are they wanting us to collapse or are they so ignorant that they think they can do the same thing that's been done before and have a different outcome for once?
Politics Under weight of massive welfare state Greece about to default on IMF loans Best of Cain
since everyone saw it coming or was told it was coming, I have to assume this was the plan.
No party would intentionally crush it's own country unless that was the plan.
are we looking at a government take over?
the UN running everything?
I used to laugh at people that talked about the "new world order", now, not so much
What happens when more people depend on government spending than the number who contribute? Well, you realize what happens when leftist politicians take you on an unsustainable course. Since you always run out of other peoples' money, the only end is that eventually you will collapse under your own weight.
Instead of making needed cuts in spending and making the necessary changes to recover, they will now have nothing.
I see no difference in the policies the Dems are embracing here. Are they wanting us to collapse or are they so ignorant that they think they can do the same thing that's been done before and have a different outcome for once?
Politics Under weight of massive welfare state Greece about to default on IMF loans Best of Cain
The banks are making rational calculations based on the politics they see going on around them. If the pols would dig their heels in and say "no bailouts" banks would change their behavior.Ah! You are finally beginning to see it isn't capitalism the banks are doing! Well done. You get a gold star.Yup. Aint Socialism grand?That debt was originally owed to banks and the financial sector. As I have said several times, investors.They were expecting the IMF and the governments to bail them out. Which in fact happened. Most of the debt is owed to those folks.Greece could have defaulted between 2009-2010, got good terms from creditors
Nice fantasy, except those creditors steadfastly refused to take a haircut. By the time the creditors were willing to accept a haircut, the debt had snowballed past the point of no return.
The IMG and the governments bailed out the banks and now the taxpayers of those countries are left holding the bag.
Thats obvious.
It's kinda like the dumb shit who buys a car from one of those "You Buy Here You Pay Here!!" places and he doesnt have a job.
And so does this mean you understand the concept of "predatory lending"?
Greece is the dumb shit. Wall Street is the predatory lender.
And the public gets fucked in the ass.
Peole retiring at 60 and under. Massive government workers' unions. Free health care. Free college. Tight restrictions on business.
Greece is a Democrat's wet dream!
No, dunderhead. This is exactly the point that conservatives make: If you make the tax rate too high people will engage in tax evasion to the detriment of the economy. Greece demonstrates exaclty that.And if Greece had managed to unfuck its economy and generate some tax revenue via an expanding economy and not pillaging its citizens it would have been able to make its interest payments. Duh.OK so the banks provided a service to a government that needed it.Did Greece come to the banks with a need for money?The banks did not force Greece to borrow. They FACILITATED Greece's borrowing. That's how banks make money, tard.
Greece was a shitty credit risk that wanted money. In normal circumstances, the world market would say to such a country, "Tough shit" and Greece would be unable to get its hands on the money.
But Goldman Sachs found a way for them. "Here", they said, "we will use the magic of derivatives to transfer risk from the shitty borrower to the rube lenders. It's been working wonders in the world housing market!"
Oopsie!
Same model. Same timeframe.
Yes. Every day, every deficit spending country, including Merka, comes to the banks with a need for money.
Did the banks facilitate that request and supply Greece with the money?
Absolutely. See link I provided earlier.
Immoral? Absolutely. You betcha.Has anything illegal, immoral or fattening taken place here? Answer: No.
Illegal? No. The banks own the governments who write the regulations. Just take a peek at any politician and see who their biggest donors are.
Go ahead. Democrat or Republican. Doesn't matter. You'll be lucky if you find more than two or three who aren't owned by Wall Street.
Nothing illegal was done.
Nothing immoral was done, despite whatever bullshit you think.
A non issue.
People evade taxes in Greece, no matter what the tax rate.
Isn't this what conservatives promote? Pay lower taxes and everything will be fine?
