Tuesday, May 8, 2012
I’m sick about hearing about Greece getting more bailout money. It’s not going to Greece. It goes to the banks that lent money to Greece. The banks get bailed out, (sound familiar?) and the people get austerity.
The French saw it coming and elected a Socialist, Francois Hollande. We’ll see how that works out for them. The Germans and the rest of Europe are shook up by the whole thing. Bankers are nervous.
I see Spain is in the bank rescue business now. I’d be reluctant too if I was them.
Anyone remember that Iceland let the banks take the hit? They are doing pretty well right now. All the other politicians pretend there are no solutions other than austerity.
Believe it or not, austerity really hasn’t hit the US yet. Maybe the powers that be hope to push that off until the election.
The economists tell us the world dodged a bullet in 2008. The whole financial system could have come apart. Yeah, it would have been painful, but maybe we’d be recovered by now. If nothing else, idiot investors would have been punished for making idiot investments. Instead, it’s bonuses all around and they get to keep driving this run away train.
Still waiting for that Wall Street perp walk. Laws were broken. Mistakes were made. Someone has their thumb on the scale of justice.
Politically, things are getting really ugly in Greece right now. Don’t think that sort of thing can’t spread. Let it be a cautionary tale.