Europe is Damned | 125 comments (125 topical, editorial, 0 hidden)

Re: Europe is Damned (4.00 / 9)

These bastards will have to be burned big time in order to learn anything. Then they will want the US Govt. to bail them out. Again.

I saw an ad running during the NBC Evening News yesterday that delineated the course of the GFC with iconic names such as AIG flashing up. They noted that an additional bailout fund had been approved by the House and then urged Arkansans to write and call their senators, Mark Prior and Blanche Lincoln, to vote against it. I will urge them to vote against closure to even consider it.

In my bones I believe the only way to end this nightmare is to let the predators blow them selves up, or, more improbably, to kill them. So fucking what if we get a financial meltdown. If there is no bailout there will be no choice but to write down debt that is the result of counterfeit anyway. At least we would get something from such a crisis: it would put in place the basis for a recovery. I cannot see how a real recovery can occur under the existing conditions.

But who am I to question the Masters of the Universe?

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Feb 11th, 2010 at 05:16:01 PM EST
[ Parent ]

Re: Europe is Damned (4.00 / 5)

The ecofin and the ECB could sink the bastards if they wanted. They have the deeper pockets.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Thu Feb 11th, 2010 at 05:19:25 PM EST
[ Parent ]

Re: Europe is Damned (4.00 / 7)

They should DO IT and then be given the Nobel Peace Prize!

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Feb 11th, 2010 at 05:37:46 PM EST
[ Parent ]

Re: Europe is Damned (4.00 / 3)

Do you guys get what's going on?

Um, Paulson is one of the people leading these raids.

Paulson!!!!

Let's think about it.

by Upstate NY on Thu Feb 11th, 2010 at 11:10:29 PM EST
[ Parent ]

Re: Europe is Damned (none / 0)

Is Paulson back at GS?

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Fri Feb 12th, 2010 at 01:55:52 AM EST
[ Parent ]

Re: Europe is Damned (4.00 / 5)

No, he's barred for one year per gov't law, but he's probably ready to jump back in. The ones leading the current raids are actually his best friends, but it was Paulson who mentored them, and Paulson who was there when the deals to both hide Greece's debt and to sell Greece the hidden CDS's were made. So you get involved with Greece and toxic finance, you leave then to save GS from CDS deals and toxic finance, then you resign, and while you're waiting around for a year, your mentees lead a raid on a country that they know is in trouble because they are the ones who sold the CDS's and toxic finance in the first place.

by Upstate NY on Fri Feb 12th, 2010 at 10:22:14 AM EST
[ Parent ]

ok (none / 0)

we've been trying to make sense of your Paulson point over several threads but now it is clear! (at least to me)

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Fri Feb 12th, 2010 at 12:32:38 PM EST
[ Parent ]

Re: ok (none / 0)

I'm sorry. I read ET a lot, and when I post, it seems I post in a flurry.

by Upstate NY on Fri Feb 12th, 2010 at 12:44:36 PM EST
[ Parent ]

Re: Europe is Damned (4.00 / 4)

Are they trying to play George Soros on the Euro?

If that is so, it's a huge miscalculation - the Euro is 10 times larger than the British Pound and the political will to keep the Eurozone together is much larger than the will to keep the EMU exchange rate mechanism together. Not to speak of the fact that the EMU was entirely political whereas the Eurozone has an actual currency.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Fri Feb 12th, 2010 at 02:00:33 AM EST
[ Parent ]

There are two Paulsons (4.00 / 2)

The GS guy and the hedge fund guy are not the same people.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Fri Feb 12th, 2010 at 02:05:09 AM EST
[ Parent ]

Re: There are two Paulsons (none / 0)

John Paulson, hedge fund boss.

Henry "Hank" Paulson, former Treasury Sec.

by afew (afew(a in a circle)eurotrib_dot_com) on Fri Feb 12th, 2010 at 04:19:33 AM EST
[ Parent ]

Re: There are two Paulsons (4.00 / 2)

I'm referring to Henry Paulson, the GS guy. It was under Paulson that the credit swap deals with Greek banks were made. GS knows from the inside what Greece's financial status is.

by Upstate NY on Fri Feb 12th, 2010 at 10:23:30 AM EST
[ Parent ]

Re: There are two Paulsons (4.00 / 3)

GS arranged the "loan" and the "special mechanisms" that disguised that fact. GS created the CDSs around that debt and then sold those CDSs to (other?) Greek Banks. Now GS is behind all of the clamor about Greek debt problems. I am unclear if the "loan" was actually a bond sale or what and don't have time to go back and check. I am wondering how GS will profit from this. One way might be to have sold short some of the CDSs. Then if the value of the CDS drops due to clamor and concern, they can buy the CDS for well less than the value of the CDS they owe who ever they borrowed it from. They could also be shorting bonds I suppose. Can someone who has insider knowledge clarify?

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Feb 12th, 2010 at 02:10:55 PM EST
[ Parent ]

Europe is Damned | 125 comments (125 topical, 0 editorial, 0 hidden)

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