I have to say

Post #354,347 by jake123 2/17/12 9:49:08 AM Reply	I have to say that I have a lot of sympathy for the Greek people's position that they should not be made to pay for games played among oligarchs. I'm having a hard time figuring out how a retired taxi driver in Athens is expected to live out his remaining days in penury so wealthy bondholders don't have to take too much of a haircut. How much money did the individuals running the banks that helped the Greek government hide their mendacity take out, and why aren't they being tasked with taking care of the mess they helped to create and hide, and profited from? Everybody knows the game is fixed, the poor stay poor and the rich get rich, that's how it goes....
Post #354,463 by S1mon_Jester 2/19/12 10:21:23 AM Reply	You think so? I know certain investor counselers who are still pushing Greek investments hard. They know Greece isn't going to be able to pay. A large piece of the market knows it too, which is why those investments are going down. But the investment head honchos don't want to lose their money. They'll push for haircuts, create new product, sprinkle Greek with other investments and push hard to sell them into 401k and Pension Funds. A lot of foolish investors are going to buy items and watch it lose money. The taxi driver isn't going to be affected. The wealthy bondholders will lose a little, but that's all.
Post #354,520 by jake123 2/21/12 12:40:15 AM Reply	The retired taxi driver's pension checks have stopped showing up. I'd say it's affecting him. What would happen in the US if the SS checks stopped going out?
Post #354,521 by S1mon_Jester 2/21/12 1:44:59 AM Reply	Actually, the huge blowup this week was mostly tied to loss of Government jobs and pension cuts.... But it looks like they got an agreement on the pension cuts. (They're still there, just not as large) I still say, check your 401Ks...make sure you don't have any international exposure to the Greek markets. This isn't over yet.

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