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.

5 comments:

IC said...

Now we know why IMF sold so much gold and beefed up its cash reserves. Bankers rule, we are all so screwed!!!!

PJ said...

I'm still trying to digest this amazing bailout. It's as if people are blowing holes in the Titanic, and the captain's response is to break up the lifeboats into plugs, while allowing the culprits to blow more holes. There is no restraint on borrowing and governments will deplete the world's savings until there is nothing left.

The one certainty is that we are going to have a huge crash someday. For now, this unnatural bubble market continues.

Anonymous said...

Would anyone buy gs here, or has the opportunity passed?

Anonymous said...

DNDN- woulda coulda shoulda

Tsachy Mishal said...

I like GS versus C as a pair.