Trichet Says Risk Signals Are Flashing Red as Debt Crisis Threatens Banks

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#1 Thu, Jun 23, 2011 - 8:42am
Shill
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Trichet Says Risk Signals Are Flashing Red as Debt Crisis Threatens Banks

Edited by: Shill on Nov 8, 2014 - 5:06am
Thu, Jun 23, 2011 - 8:44am
Violent Rhetoric
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I love this guy. Keep talking

I love this guy. Keep talking baby and let's see if we can get a panic going and take a ride on the short side of stocks.

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty. This is known as “bad luck.” ~ Robert Heinlein
Thu, Jun 23, 2011 - 9:07am
agauinvest
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True agenda exposed

Well, at least this warning is a blatant admission that the French and German banks are the issue. They cannot take a haircut because their capitalizations positively stink. On one level, I wish the Greek people, before succumbing to debt and tax slavery to prop up banks that took risks they knew were risks, understood that they actually are in a powerful position right now. They have the power to take down banks and monetary authorities through default. Of course, if that happened, there would be no near-term access to debt markets, and would also force austerity as a result. But I'd rather face that austerity than debt slavery austerity.

Icelandic people drafted the rough sketch, if not the blueprint.

It upsets me that the buyers of the Greek bonds were chasing high interest rates, which are high to compensate for the high risk involved, think that they should assume none of the risk. Sound like the same bank bailout moral hazard to anyone else?

Thu, Jun 23, 2011 - 9:25am
Violent Rhetoric
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Sound like the same bank

Sound like the same bank bailout moral hazard to anyone else?

Yes. The role of Government is to subsidize poor decisions and punish good ones. It's what they do.

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty. This is known as “bad luck.” ~ Robert Heinlein
Thu, Jun 23, 2011 - 9:29am
davefess
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sell, sell, sell

I would love to see this thing come down, for my own selfish interests I guess. For those who get their 401k pummeled, I am sorry. You are going to get it on both ends. First a decline in your portfolio, next by currency devaluation.

"it's game over man, game over!"