About GREECE & EURO CRISIS
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http://www.anilselarka.com/con
Kalidas Says … Saturday, October 22, 2011
Greece is a small potato. Greece is a very small economy. It suffered heaviest losses due to shady derivatives such as Credit Default Swaps, CDO (Collateralized Debt Obligations) etc sold by leading US Brokers such as Goldman Sachs. Otherwise there were no real troubles for Greece. Under the law, if any sub-standard product is sold as Investment grade item by any bank or investment bank, the liability can be denied as being contracted under fraud and misrepresentation and not binding on the acquirer. Greek should have flatly denied all such liability contracted under fraud and as such no obligations become enforceable. Instead, it kept mum and started insisting on “bail out”. This is the main trouble for Greece.
The epicenter of all insidious derivatives, CDS, CDO originated from United States. Their Investment Banks later sold such shady products to British banks and European banks/governments. When the trouble developed, US allowed all investment banks to transfer the liability to single bank – Lehman Brothers who just before bankruptcy transferred over $9 billions from United Kingdom in clandestine manner. The reason for failing Lehman Brothers was that once they are dead, no old issues would be re-opened.
If I were the Prime Minister of Greece, I would have flatly denied all shady obligations enforced on my country through fraud and misrepresentations. It is all American shits which is being spluttered around in UK and Europe, its largest partners. Even until now, the stupid Europeans are unable to understand what has hit them, and they go on talking about rescue instead of flatly denying all obligations under fraud. Look at Bank of America – many of Pension Funds and Insurance Companies have successful sued them for refund of their investment amount lost almost totally under fraud and misrepresentation. If they can win in their own country, how come Europeans can not win on almost similar ground?
Banks would not be nationalized in Europe or elsewhere. They respect the free market, so they do not care what happens to the banks howsoever large. European Banks overall in much stronger state than those in United States. The troubles are brewing in United States, but the smokes are rising from Europe. There is underground piping from Unites States to Europe and UK. This medium is not seen by ordinary eyes
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http://www.anilselarka.com/con
Kalidas Says … Saturday, October 22, 2011
Greece is a small potato. Greece is a very small economy. It suffered heaviest losses due to shady derivatives such as Credit Default Swaps, CDO (Collateralized Debt Obligations) etc sold by leading US Brokers such as Goldman Sachs. Otherwise there were no real troubles for Greece. Under the law, if any sub-standard product is sold as Investment grade item by any bank or investment bank, the liability can be denied as being contracted under fraud and misrepresentation and not binding on the acquirer. Greek should have flatly denied all such liability contracted under fraud and as such no obligations become enforceable. Instead, it kept mum and started insisting on “bail out”. This is the main trouble for Greece.
The epicenter of all insidious derivatives, CDS, CDO originated from United States. Their Investment Banks later sold such shady products to British banks and European banks/governments. When the trouble developed, US allowed all investment banks to transfer the liability to single bank – Lehman Brothers who just before bankruptcy transferred over $9 billions from United Kingdom in clandestine manner. The reason for failing Lehman Brothers was that once they are dead, no old issues would be re-opened.
If I were the Prime Minister of Greece, I would have flatly denied all shady obligations enforced on my country through fraud and misrepresentations. It is all American shits which is being spluttered around in UK and Europe, its largest partners. Even until now, the stupid Europeans are unable to understand what has hit them, and they go on talking about rescue instead of flatly denying all obligations under fraud. Look at Bank of America – many of Pension Funds and Insurance Companies have successful sued them for refund of their investment amount lost almost totally under fraud and misrepresentation. If they can win in their own country, how come Europeans can not win on almost similar ground?
Banks would not be nationalized in Europe or elsewhere. They respect the free market, so they do not care what happens to the banks howsoever large. European Banks overall in much stronger state than those in United States. The troubles are brewing in United States, but the smokes are rising from Europe. There is underground piping from Unites States to Europe and UK. This medium is not seen by ordinary eyes
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