This is Bear Stearns all over again. Everyone will cry “moral
hazard” right up until the bailout is agreed to.
Yep.
I applaud the citizens of Greece for their vote.
From all the reports I've gleaned that their largely black-market based society will survive better than the mostly French and German government and “investors” in the EU shell games will.
It reminds me of the large amount of unsold and empty $175K “houses” built on the 100 acres behind my rural rental house in 2000 in Pasco County, Fl.
Built by foreign illegal laborers.Financed by unknown financial speculators.Bought by nobody.