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gregcrawford

(2,382 posts)

33. As I recall...

Mon Jan 26, 2015, 10:00 AM

Jan 2015

... Greece was one of the European nations that were the victims of the Goldman Sachs collateralized sub-prime mortgage scam. GS knew the debts were no good when they sold them, so they insured against the losses they knew were inevitable, and then made squillions on the back end as well, bankrupting AIG in the process. But Lloyd Blankfein and the rest of those malignant scumbags are still wearing Armani instead of orange jumpsuits.

Imposed austerity has been proven to be an abject failure on every level, but the greedy banksters still insist that Greece , and to a lesser degree, Spain, adhere to the draconian strictures that are guaranteed to force both countries into bankruptcy. Their terms and conditions make it virtually impossible for the countries to ever repay the loans.

Summary execution of bankers and their enablers in government may not be a far-fetched concern at this point.

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Anti-Austerity Party Wins Decisive Victory in Greece [View all] Purveyor Jan 2015 OP

Does this mean that Greece might leave the Euro? Raine1967 Jan 2015 #1

His campaign promise was not to leave the Euro jakeXT Jan 2015 #3

Thank you. Raine1967 Jan 2015 #9

it's a clusterFxxx. Greece should never have been allowed in the Euro zone in the first place uhnope Jan 2015 #16

This article details their plans killbotfactory Jan 2015 #4

Europe Teeters On The Brink Of Deflation DallasNE Jan 2015 #6

Basically, it's increase social spending... FLPanhandle Jan 2015 #8

Very interesting. I hope Greece takes the turn quicker than we did here in the USA. Raine1967 Jan 2015 #10

Where are they going to get the money for this? candelista Jan 2015 #12

Last I heard, Greek government bonds were junk status, cheapdate Jan 2015 #14

Raise prices on the German tourists? JDPriestly Jan 2015 #15

And a bad one imo. cstanleytech Jan 2015 #20

They can't invest in their infrastrucutre and education because they have neither money nor JDPriestly Jan 2015 #23

There are other ways to lend themselves money they could print some bonds and sale them to cstanleytech Jan 2015 #26

And free puppies & kittens. Its just as likely as THAT list. 7962 Jan 2015 #17

Sell the Parthenon to the Chinese. DCBob Jan 2015 #37

The plutocrats aint going like this chit! Cryptoad Jan 2015 #2

So, let them leave Greece and go live in gloomy England or freezing Switzerland or some other JDPriestly Jan 2015 #24

If anyone has Euros or Euro-denominated securities, I'd start dumping them. roamer65 Jan 2015 #5

Same thing could be said about the US dollar project_bluebook Jan 2015 #7

Many Eurozone countries are in deep trouble with their austerity policies Ramses Jan 2015 #11

Sometimes it takes pain to repair. But no one is willing to take it. We are the same here 7962 Jan 2015 #18

taxes will need to be raised on wealth and the wealthy Ramses Jan 2015 #19

There arent enough rich people to seriously dent the debt. Thats the problem. 7962 Jan 2015 #21

The only promises Ive read is cut and cutting some more and more austerity Ramses Jan 2015 #22

Well, we'll see what happens. I think its not gonna go well. 7962 Jan 2015 #25

Then the rich folkes assets need to be repatriated to their countries of origin Ramses Jan 2015 #27

What I'd like & what actually has a chance of happening are 2 different things! 7962 Jan 2015 #28

We all shall see. wont we? Ramses Jan 2015 #29

No MFrohike Jan 2015 #30

So just print 18 trillion and pay it all off! Great idea. Why havent we done that already? 7962 Jan 2015 #32

A little knowledge is dangerous MFrohike Jan 2015 #39

Greece's enormous debt is still the 800-lb gorilla in the room. cheapdate Jan 2015 #13

Syriza and Independent Greeks agree Greece coalition muriel_volestrangler Jan 2015 #31

As I recall... gregcrawford Jan 2015 #33

Not the collateralized sub-prime mortgage scam, but they did cook something up with GS muriel_volestrangler Jan 2015 #35

K&R. Yes please! Overseas Jan 2015 #34

With 1% of the world rich control half the wealth, why shouldn't the Greeks vote that way? (nt) question everything Jan 2015 #36

Its easy to make these grand statements about ending austerity but.. DCBob Jan 2015 #38