A diary of the thought process behind my investment decisions
The Mother Of All Bailouts
There are rumors going around that the IMF will bail out Greece. Not only that but IMF claims will be junior to existing bond holders.Why would anybody do that? The European banks hold most of Greece's debt so this would be a huge bailout of the European banking system and the Europeans control the IMF. Of course the US taxpayer will be kicking into this bailout. But don't worry, we can print the money.